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The Full Federal Court has found that a landmark NSW Court of Appeal decision barring group members from being notified of future class closure orders at settlement was "plainly wrong" and that the court has the power to make the orders.
Judgments shooting down a class closure order and nixing notice of a possible class closure order were "plainly wrong" and "infected" by faulty reasoning, the Full Federal Court has heard.
The Full Court is set to examine whether the Federal Court has the power to make class closure orders prior to mediation, weighing on one of the biggest unanswered questions vexing the class action regime.
Boral has denied that shareholders bringing two class actions against it over financial irregularities in its North America windows business suffered any loss, saying that its systems helped spot and prevent the financial manipulation from continuing.
A judge has denied a law firm's bid to stay a rival's closed shareholder class action against construction giant Boral but warned courts must be alive to the potential for conflicts where lawyers stand to reap "very significant financial awards" from class action proceedings.
As the no win, no fee model comes out on top in another high profile class action beauty contest, legal experts say third-party litigation funders will need to evolve and "fight back" to stay competitive.
A judge has found he has power to order that opt out notices be sent to a limited number of Boral shareholders eligible to join two class actions that faced off last month in a class action beauty parade.
Building products supplier Wagners has been awarded $4.8 million from Boral after Wagners successfully challenged a ruling in a high-stakes cement supply dispute with the construction material giant.
Phi Finney McDonald will amend its funding agreement with Therium in a shareholder class action against Boral after a judge found that an irrevocable opt out provision placed the law firm in a "manifest position of conflict".
A judgment in a heated carriage fight between three class actions against construction giant Boral provides some guidance to law firms about conduct that could potentially compromise their case for why they should be crowned the victor in a class action beauty parade.