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Engineering services company CIMIC has agreed to settle a long-running shareholder class action launched in the wake of media reports of an alleged $42 million bribe paid by the firm to win a lucrative oil contract.
Judge fines Volkswagen $125M after slamming ‘manifestly inadequate’ ACCC settlement
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A Federal Court judge has slapped Volkswagen with a record $125 million penalty over its emissions cheating scandal after expressing outrage at a “manifestly inadequate” $75 million settlement agreement reached with the Australian Competition and Consumer Commission.
Reports of death of common fund orders greatly exaggerated
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Common fund orders in federal class actions could live to see another day, the Federal Court has indicated in new guidance to be released Friday, which swiftly responds to a recent judgment by the High Court that appeared to spell their doom.
Trial date vacated again in Country Care criminal cartel case
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A judge has vacated an upcoming trial date in a criminal cartel proceeding against mobile equipment provider Country Care Group and two individuals, and allowed the defendants to appeal a first-of-its-kind ruling on jury directions in criminal cartel cases.
Judge OKs $190M stolen wages class action settlement, says funder’s cut fair
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Calling it the largest human rights case in Australia’s history, a judge has signed off on a $190 million settlement in a class action against the State of Queensland and approved the funder’s 20 per cent cut of the proceeds.
Class wins access to Appco insurance docs in sham contracting case
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Appco has agreed to hand over insurance policy documents to the lead applicant in a $90 million sham contracting class action, amid concerns about the dire financial state of the fundraising company as the matter moves towards mediation.
Westpac class action on shaky ground after High Court ruling
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A class action against Westpac over allegedly excessive insurance premiums that was at the centre of a successful High Court challenge to common fund orders may back out of funding the case in the wake of the landmark ruling.
‘Australia’s largest class action’ turns to bookbuilding after common fund blow
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A planned class action by Shine Lawyers, pegged as “Australia’s largest class action,” over allegedly toxic firefighting foam at eight Commonwealth military bases won’t be filed this month and has turned to bookbuilding following a landmark High Court ruling striking down common fund orders at the outset of class actions.
Westpac hit with $9.15M penalty over bad advice
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A Federal Court judge has ordered Westpac to pay a $9.15 million penalty after one of its financial advisers breached the best interests duty by giving customers bad advice that resulted in millions in losses.
Fight to lead Monsanto class action could be on the cards
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A beauty contest to lead a class action against Monsanto over its allegedly cancer-causing weedkiller Roundup could be on foot, with the US chemical giant now facing one class action in the Federal Court and another in the Victorian Supreme Court.