Allowing Vodafone’s proposed $15 billion merger with TPG to go ahead if there were a real chance that TPG could seriously compete in the market for mobile services would have “profound social consequences,” the competition watchdog told the Federal Court Friday as it unsuccessfully sought to push back a hearing over the deal.
US asset management firm State Street has dropped its trade mark case against superannuation fund HESTA over its Fearless Girl statue, after HESTA agreed to stop all marketing and promotion involving a replica of the famous New York statue.
AMP has been hit with a class action alleging it breached its duty of care to superannuation members by charging them unreasonably high fees, and a second class action is expected within weeks.
The law firm running a shareholder class action against GetSwift confirmed it was looking at the events surrounding Tuesday’s trading halt by the Australian Stock Exchange but would not be amending its ongoing case against the logistics company in light of it.
Maurice Blackburn has partly prevailed in an appeal of a judge’s decision to put the brakes on its shareholder class action against BHP while greenlighting a competing case brought by Phi Finney McDonald, with an appeals court ordering the rival law firms to negotiate a deal to consolidate their litigation.
Maurice Blackburn’s funding model rejected by a judge overseeing a beauty parade of class actions against BHP appeared structured to incentivise the firm to push up its legal fees, an appeals court said Monday on the first day of a high stakes hearing challenging a decision to shut down two of three competing cases against the mining giant.
A judge’s decision to pick Maurice Blackburn’s no win, no fee class action against AMP over three funded class actions puts the pressure on litigation funders, which will now face more competition from law firms prepared to go it alone, experts say. The ruling also shows the value courts place on funding arrangements that seek to maximise returns for class members, which means class action beauty parades are sure to get less ugly.
A Queensland Supreme Court judge has given the green light for a $30 million settlement of a liquidator’s case against failed financial services firm LM Investment Management, saying the result was appropriate and “a matter of some public interest”.
The former directors of collapsed mining company Termite Resources have appealed a ruling ordering them to pay $7 million in damages for allegedly breaching their duty by distributing more than $46 million to Termite’s parent company and failing to maintain a cash reserve of at least $10 million.
Maurice Blackburn’s shareholder class action against AMP — the only action not backed by a litigation funder — has been picked as the winner in a fierce battle of law firms vying to lead a high stakes case over the wealth manager’s fees for no service scandal.