A judge overseeing competing class actions against AMP over allegedly excessive superannuation fees has signed off on an agreement by two rival law firms to consolidate their cases, avoiding a potentially costly and drawn out beauty parade.
AMP has added two law firms to separately represent its subidiaries in one of two class actions alleging it charged its superannuation members excessive fees.
The Federal Court’s top judge has urged ASIC and ANZ to continue their “litigation good faith” in the corporate cop’s action over $35 million in allegedly illegal customer fees charged by the bank, and cautioned the two sides against slogging it out with a “staged trench warfare” mentality.
After defeating the corporate regulator’s case alleging it breached responsible lending laws, banking giant Westpac has won a reprieve from lodging a defence in a related class action.
A judge has ordered a group of banks facing a competition class action over alleged foreign exchange rate-rigging to hand over documents they produced as part of settlement agreements in class actions in the US and Canada.
Pitcher Partners has been ordered to hand over information about its professional indemnity insurance in two shareholder class actions over its role as Slater & Gordon’s auditor.
A shareholder class action against CIMIC Group will fight a strike out application it has slammed as an “opportunistic” late-stage move by the global engineering firm made only because the trial was previously vacated.
The Full Federal Court is set to hear appeals in four class actions in the August sitting, giving the court a chance to address important issues, including cost-capping in joint class actions and security for costs in unfunded cases. Here, we give you the run-down on each of the upcoming challenges.
Construction giant Lendlease has filed its defence in one of two shareholder class actions filed against it, saying any losses investors allegedly suffered were wholly or partly due to their own failure to take reasonable care.
The former partner of Westpac-backed venture capital firm Reinventure Group has been ordered to appoint an independent valuer to clarify the claimed loss against her former employer before the parties enter mediation.