A judge has opened the administration of a $300 million settlement in a pelvic mesh class action to a competitive bidding process, shortly after another judge said law firms were not uniquely qualified to distribute class action spoils.
Class action settlement sums reached new highs last year, with the ten largest agreements totalling almost $1 billion, almost half of which was secured by one plaintiff law firm.
A contradictor in two pelvic mesh class actions against Johnson & Johnson has opposed Shine Lawyers recovering $100 million in costs from a $300 million settlement, which a judge has preliminarily found is not fair and reasonable to group members.
Fuji Xerox and Ernst & Young have settled a lawsuit over $450 million in alleged accounting irregularities that also ensnared an EY partner and two senior Fuji executives.
Two former executives at Fuji Xerox’s Australian unit have settled a lawsuit over their roles in a $450 million accounting scandal that has also ensnared auditor Ernst & Young.
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.
Law firm Maddocks has been ordered to pay more than $1.4 million in indemnity costs for “throwing good money after bad” in failing to consider a settlement offer in a negligence lawsuit over a client’s botched deal with Woolworths.
A national law firm has been found liable to pay $13 million in damages for giving negligent advice to a former client that led to a botched sale of its business to Woolworths and caused it to go into administration.
Investors in collapsed stockbroker Halifax Investment Services have failed to overturn decisions in Australia and New Zealand relating to the date of realisation of their investments which have decreased the amount they can recover in the company’s liquidation.
Approximately 1,000 investors of collapsed stockbroker Halifax Investment Services have challenged a court decision concerning the date of the realisation of their investments which decreased the amounts they could recoup from the company’s liquidation.