After four years of litigation, the Volkswagen diesel emissions class actions have reached an in-principle settlement of up to $127.1 million, with affected consumers expected to receive $1,400 per vehicle on average if 100 per cent participation is achieved.
The Australian Securities and Investments Commission is seeking evidence from US proceedings in its case against Rio Tinto alleging the mining giant misled shareholders about a Mozambique mining company purchased for US$4.2 billion.
The barrister leading an appeal seeking to revive Quinn Emanuel’s fees for no service class action against AMP has criticised the approach taken in the landmark GetSwift ruling on competing class actions, saying it placed the court in the role of auctioneer and actually encouraged duplicative proceedings.
Two competing shareholder class actions against developer Lendlease have been locked in for a beauty parade before the judge who recently forced the consolidation of three class actions against engineering firm RCR Tomlinson.
Noting the “significant and beneficial reduction” in recent funding rates, the judge overseeing a shareholder class action against recycling company Sims Metal Management has signed off on an order capping the commission of the funders at 25 per cent of any net proceeds and setting a minimum 50 per cent of any recovery for group members.
A hearing scheduled for later this year in several class actions and an ACCC proceeding over allegations Volkswagen installed dual-mode software in diesel vehicles to cheat on emissions tests has been postponed, despite cries of prejudice from the consumer regulator.
Recycling company Sims Metal Management has responded to a shareholder class action ahead of a hearing on Tuesday, denying it breached its continuous disclosure obligations and partially placing the blame for any losses at the feet of group members.
The Australian chapter of biker group the Hells Angels has mostly come up short in its wide-ranging intellectual property lawsuit against online marketplace Redbubble. But the judge that heard the case may have opened the door for more IP lawsuits against the print-on-demand site by shooting down its claims that its not a seller but merely a platform for artists and consumers to engage.
A Federal Court judge has ordered Volkswagen to produce documents related to its calculations on how its emissions cheating scandal could affect car prices.