BHP Group has been granted special leave from the High Court to appeal a ruling that rejected its bid to exclude foreign investors from a shareholder class action over the 2015 Fundao dam disaster.
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 lawyers and funder behind a shareholder class action against Crown Resorts will be asking the court to approve fees and commission worth 35 per cent of a $125 million settlement with the gaming giant, leaving over $81 million for group members.
A judge has directed that the legal fees and funding commission sought to be deducted from a $125 million class action settlement with Crown Resorts be included in a proposed notice to shareholders, after learning that group members were forced to click through to Maurice Blackburn’s website to find the “critical” figures.
A settlement in the class action against Crown Resorts put paid to an in-person trial before it began, but gathering in court on Friday to notify the presiding judge of the happy outcome was enough to remind the Victorian litigators what they had missed over the past 18 months.
Crown Resorts has reached a $125 million settlement in a shareholder class action, avoiding a six-week trial scheduled to begin on Monday.
The Federal Court has slugged wealth management firm Colonial First State Investments with a $20 million penalty for misleading almost 13,000 superannuation members about their MySuper entitlements through a “concerted campaign” that lasted two years.
A judge has said the applicant in a class action against Brambles has “side-stepped” a challenge to a landmark class closure ruling that found there was no statutory power to shut out unregistered class action members, a decision that he said had “bedevilled” the courts.
Global resources giant BHP Group is seeking special leave from the High Court to appeal a ruling that rejected its bid to exclude foreign investors from a shareholder class action over the 2015 Fundao dam disaster.
A Federal Court judge has made his feelings known about a ruling by the NSW Supreme Court last year that found judges have no power to shut unregistered group members out of a class action, but said he was “just a single judge” and was bound by the decision.