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MyBudget has successfully fought off a class action brought by consumers who claimed the budget management firm violated consumer law by holding onto interest earned on their personal budgeting accounts.
A sought-after court order by organic baby food maker Bellamy's to limit legal costs in two class actions won't come without a fight, a barrister for the shareholders said Friday.
The defendants in a shareholder class action over QRxPharma's alleged failure to disclose problems with regulatory approval for its painkiller Moxduo have won access to information on class members' financial brokers.
The corporate watchdog's dim view of proposals to regulate litigation funders got a mixed reaction from big players in the industry Thursday, with its position supported by foreign funders but frowned on by at least one home-grown firm.
Litigation funders should not be regulated by ASIC but by the courts, the corporate watchdog has told the Australian Law Reform Commission in response to proposals to overhaul the class action regime and subject funders to licensing requirements.
Law firm Slater and Gordon will launch a series of class actions alleging the big banks and wealth managers ripped off more than $1 billion from members of their superannuation funds.
Accounting giant Deloitte is digging in for a fight over a court order to produce documents to a shareholder class over the firm's auditing of collapsed engineering company Hastie Group, saying partners forced to hand over the files don't have access to them.
Supermarket giant Woolworths has been hit with a class action on behalf of investors who allegedly suffered losses when the company revised its sales and profit guidance and revealed it had been using the wrong pricing competitiveness and stock availability metrics.
An Australian mortgage investment manager has been hit with a class action, alleging it charged excessive fees on loans and made misleading representations to borrowers.
The $92 million payout to two funders that financed the recently settled S&P Global class actions shows the need for continued scrutiny of litigation funding agreements, experts say, but whether it is a sign of windfalls to come or is a ghost of commission's past is another question.