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Weeks after giving the thumbs up to common fund orders at settlement, the Full Federal Court has been asked to decide whether judges have power to order payment of a commission to class action solicitors -- not just funders.
Accounting firm KPMG has asked the High Court for a second time to weigh in on the relevance of a contingency fee order made in a Victoria Supreme Court class action to its bid to transfer the case to NSW.
Nuix had information in January 2021 which undermined the growth story presented to the market in the prospectus for its IPO, a court has heard on the first day of ASIC’s case against the tech company and a handful of former directors.
Crown Resorts is seeking $10 million in security for costs from the law firm running a shareholder class action accusing it of lax anti-money laundering compliance, arguing the sum is justified in light of the firm’s potential recovery under a tiered group costs order.
The judge overseeing a class action against collapsed investment manager Blue Sky has said he would not be inclined to seek clarity from the Full Court on whether the court has the power to make a solicitors common fund order unless one of the defendants raised a challenge.
A judge has signed off on a $110 million settlement in a long-running shareholder class action against AMP over its fees-for-no-service conduct, including $26 million in costs for law firm Maurice Blackburn.
ANZ is facing proceedings by a shareholder who wants the bank to turn over documents related to its risk management systems in response to concerns it is increasing loans to fossil fuel companies and failing to properly address climate change risks.
Fleet management company FleetPartners has been stung with a shareholder class action over a revised 2019 earnings guidance that doomed its planned merger with McMillan Shakespeare.
BHP has won its argument that shareholders who did not purchase their stock while trading on one of the three exchanges on which the mining giant is listed are excluded from a securities class action over the collapse of a Brazil tailings dam.
The government is seeking submissions for a review of widely criticised Morrison-era reforms that weakened continuous disclosure obligations, but the review may be hampered by the lack of case studies from the courts.