Most Recent
The rate of contingency fees granted out of the gate in class actions in Victoria's Supreme Court has shot up, and more than two dozen law firms are now vying for their chance at a tidy payday, according to a new report.
TPG-owned Anew Climate has sued an Australian company that allegedly impersonated a US carbon offset developer by using "bogus" emails to unlawfully receive payments under a $968 million (US$640 million) investment deal, a court has heard.
Seizing on the opportunity afforded by a dynamic and growing area of the law, and wanting to pursue more public interest cases, three young stars of Slater & Gordon have left the firm they cut their teeth on to start their own class action firm.
The practice of appointing independent consultants to scrutinise legal costs in class actions has accelerated in the past four years and has resulted in millions of dollars going to group members, a new report reveals.
A former Fair Work Commission vice president has sued the ABC for allegedly tricking him into participating in a Four Corners interview about his relationship with controversial union figure Kathy Jackson, who was found to have misused $1.4 million in union funds.
Last year brought economic growth and success for law firms, but 2021 was not only marked with good news. A slew of law firms were dragged into litigation by disgruntled ex-clients, with some paying out millions of dollars to resolve lawsuits accusing them of giving bad advice.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion's share, with $672 million in settlements under its belt.
The number of new class actions has nosedived in the past six months, but experts say the drop does not signal a long-term trend but a recalibration by lawyers and funders, whose ingenuity is not to be underestimated.
The chief judges of three of the country's top courts say virtual hearings, including through the use of popular livestream technology, will be around long after the coronavirus pandemic ends.
Class action filings in the Victoria Supreme Court have more than doubled in 2020, a trend that's likely to hold as law firms take advantage of a new law allowing them to earn contingency fees for running successful class actions.