The field of competitors in a four-way contest to run a shareholder class action against Downer EDI over a $40 million profit overstatement has narrowed with the consolidation of three cases, leaving one firm to face criticism over its comparative inexperience running group proceedings.
Deloitte may seek confidentiality orders over the amount it agreed to pay to settle a shareholder class action over its audits of collapsed construction group Hastie.
Deloitte has settled a shareholder class action over its audits of collapsed construction group Hastie, a case which dragged on for six years as the accounting firm unsuccessfully fought to shield its audit reports.
A judge has refused a lead applicant’s novel bid for financial information to use at settlement discussions in a group proceeding against Dixon Advisory.
A judge has signed off on a 25 per cent group costs order in a class action against Suncorp subsidiary AAI, after accepting that the back-up plan of law firm Maurice Blackburn was not artificially uncertain.
The judge asked to approve a settlement in a class action against retirement village provider Aveo has sent a shot across the bow to law firms seeking to make broad confidentiality claims over the settlement, saying such claims should be kept “to a minimum” in class actions.
A judge overseeing a class action against Suncorp subsidiary AAI has questioned whether the “uncertain” plan B of a law firm seeking a 25 per cent group costs order was artificially uncertain to increase the relative appeal of its contingency fee bid.
Three years on from their debut, group costs orders — which entitle law firms to a percentage of any recovery in class actions — have raised a host of novel issues that are keeping lawyers and the court busy.
The applicants in competing class actions against Downer EDI have set out their proposals for the courts overseeing the cases, with two calling for orders staying the proceedings of their rivals, and another seeking consolidation.
A judge overseeing five lawsuits seeking compensation on behalf of AFL players who allegedly suffered brain injuries has set the stage for a class action beauty parade, as one law firm flags a possible sixth action.