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A judge has given the green light to a settlement of seven class actions against ratings agency S&P Global over toxic financial products, saying despite an "extraordinarily large" litigation funding fee the deal was a "significant vindication" of group member claims.
When US food giant Kraft faces off next week in its lawsuit against Aussie cheese company Bega for allegedly violating its peanut butter trade dress, the court will be faced with the thorny task of unraveling a complex corporate transaction that left both companies claiming rights to the iconic trade dress.
The amicus hired to assess the funder's cut of a potentially record settlement in several class actions against S&P Global over toxic financial products has told the judge that if he's considering approving a funding equalisation order, he should “start with a blank piece of paper” in calculating a reasonable funder's commission.
Shareholders in a class action against Deloitte over the collapse of engineering company Hastie Group have won a major ruling against partners at the auditing firm who resisted handing over evidence to the class for fear of incriminating others at the accounting giant.
The judge weighing a record settlement in multiple class actions against S&P Global over toxic financial products said Tuesday there was "no way" he would sign off on the deal while it stipulated that all funds be returned to the ratings agency in the event the settlement amount is disclosed.
The judge overseeing the lawsuit between Kraft and Bega over peanut butter trade dress rights has denied a request by non-party Mondelez to implement a restrictive regime to protect its trade secrets in certain transaction documents it has produced in the case.
S&P Global Ratings and ANZ Banking Group have agreed to settle seven class actions over toxic financial products given healthy credit ratings ahead of the global financial crisis.
The Australian Securities and Investments Commission has broadened its case against Rio Tinto and two former executives and is seeking extra penalties.
Two high ranking analysts from S&P Global have distanced themselves from the decision making process at the heart of a class action over toxic financial products given healthy ratings by the agency ahead of the global financial crisis.
A Federal Court judge has questioned the independence of for-hire fee assessors in class actions, calling their opinions on legal costs "next to useless".