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A litigation funder will seek a commission of up to 25 per cent in a class action against Toyota that could see the automotive giant owe close to $2 billion to 260,000 car owners after a judge found diesel filters in its cars were defective.
Toyota could owe close to $2 billion in compensation to 260,000 car owners after a judge found that diesel filters installed in its Hilux, Fortuner and Prado models were defective and that the cars were sold for more than they were worth.
Five major banks including JPMorgan, Citibank and UBS have denied all wrongdoing in a class action accusing them of entering a cartel agreement to rig foreign exchange rates and argue the claims were brought out of time or are barred by settlements in overseas proceedings.
An appeal in a class action over Ford's alleged defective Powershift transmission could blow out by a week, with the applicant filing a cross appeal in a case that comes down to three provisions of the Australian Consumer law given little or no attention by the Full Court.
The CDPP's decision to drop all criminal cartel charges against two banks and four individuals in a "test case" over a $2.5 billion ANZ share placement shows the ACCC "lacks expertise and objectivity" on the financial markets and should leave them to ASIC to regulate, according to one of the former accused.
In a stunning reversal, the Commonwealth Director of Public Prosecution has dropped all criminal cartel charges against two investment banks and four individuals in relation to a $2.5 billion ANZ share placement, four years after the charges were brought following an allegedly questionable investigation by the ACCC.
Ford has challenged its loss in a class action over its allegedly defective PowerShift transmissions, arguing group members who have had their cars repaired are not entitled to damages.
A judge has left open the possibility that aggregate damages could be awarded in a class action against US auto giant Ford on behalf of 185,000 vehicle owners over their defective cars.
A judge has given the green light to amended pleadings in a class action accusing major banks of entering a cartel agreement to rig foreign exchange rates, bringing a two-year fight over the pleadings closer to resolution.
In a win for a long-running class action against US auto giant Ford on behalf of owners of 70,000 vehicles, a judge has found that cars installed with PowerShift transmissions were defective.