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Customers of wealth manager Colonial First State were $10 million to $12 million better off without a litigation funder in a class action over the slow transfer of accounts to low cost MySuper funds, a judge has found.
A judge has slammed as a "schemozzle" a law firm’s attempt to drop a class action by Telstra employees over the telecom giant’s COVID-19 vaccine policy, saying it failed to seek court approval for the discontinuance or give notice to group members as required.
A judge overseeing a superannuation class action against two Westpac units that settled for $30 million has expressed concerns about the ATO's potential involvement in distributing settlement funds, saying the department was unlikely to efficiently reunite group members with their money.
A bid to drop a class action against Philips Electronics over recalled sleep apnea machines showed a gap in access to justice that was “very hard to fill” given the high cost of bringing large scale litigation, a judge has said.
A judge has ordered a litigation funder and the lead applicant in a settled class action to personally mediate a stoush over expenses, saying he doubted the applicant's $1.2 million claim and said the court is "not a place for their sport”.
The question of power to make a common fund order at the end of a class action was no longer a hypothetical one and it was time to send the issue to the Full Federal Court. That's what the 7-Eleven class action judge was told 15 months ago but he failed to heed the advice, resulting in a court deeply divided and funders clamouring for reform.
The applicants in a shareholder class action against KPMG and former directors of defunct mining company CuDeco might press for clarity on the question of common fund orders in light of a ruling Tuesday morning that further split the Federal Court on the issue.
A judge has approved a $1 million settlement in a shareholder class action against failed tech start-up GetSwift that leaves the law firm running the matter taking a “massive haircut” and the funder $5.5 million out of pocket.
A $1.5 million class action settlement against failed logistics provider GetSwift, which a judge termed a "disaster", has been revised down to $1 million and may face a liquidators' challenge that could see a group members recover nothing.
Liquidators of failed tech company GetSwift have foreshadowed an objection to a $1.5 million settlement going to shareholders in a class action that a judge has labelled a “disaster".