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Three law firms team up in battle to run class action against Downer
Amy Campbell 2023-08-28 11:31 pm By Sam Matthews

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. 

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Downer EDI class actions call for stay of rival cases in four-way fight
Class Actions 2023-07-11 5:13 pm By Christine Caulfield

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.

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Destination High Court as law firm lodges fourth Downer EDI class action
Class Actions 2023-06-07 11:23 pm By Sam Matthews

Multiple class actions against Downer EDI over accounting irregularities might be bound for the High Court as complex legal questions swirl, a judge said on Wednesday.

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Funder’s $7M cut in Fonterra class action up in the air amid CFO uncertainty
Adley Burstyner 2023-02-28 8:47 pm By Sam Matthews

A judge has indicated his willingness to approve a $25 million settlement in a class action against dairy co-op Fonterra, but deferred the question of the funder’s cut until after the Full Court rules on whether the court has the power to make a common fund order at settlement.

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Like CFOs of yore, class action beauty parades push down law firms’ GCO profits
Analysis 2022-12-13 2:10 pm By Christine Caulfield

A recent ruling cutting the contingency fee sought by a plaintiff law firm shows competition to run class actions will drive down the percentage payout courts are willing to permit. And as more firms enter the market for a slice of the returns, the downward pressure on profits will only build.

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Global banks sued for withdrawing support for Jabiru satellite
Banton Group 2021-09-07 5:55 pm By Cindy Cameronne

Eight major banks, including Credit Suisse, Deutsche Bank and Citicorp, are facing a lawsuit for withdrawing financial support for a project to build and launch the first independently owned satellite in Australia.

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Creditors of LGL Commodities may have case against lawyers, judge says
Agriculture 2021-04-21 3:35 pm By Christine Caulfield

Creditors of LGL Commodities might have a right of action against solicitors for the company’s liquidators for failing to comply with court orders and omitting evidence in a case against a former director, a judge has ruled.

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