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A settlement in a shareholder class action against GetSwift has collapsed as the logistics company seeks to secure financing to keep it afloat and pay the final portion of the deal's $1.5 million cash component.
Lawyers leading a class action against the Commonwealth Bank over its alleged money laundering compliance failures are getting their ducks in a row in the event the Full Court rules the court has the power to shut out unregistered group members from a class action.
A settlement agreement in a shareholder class action against GetSwift may be scrapped as the applicant seeks more information as to whether the logistics company is solvent or about to go under.
The corporate regulator has confirmed it has questioned the brother of former Nuix CFO Stephen Doyle and might seek further examination as part of its ongoing investigation of the troubled tech company.
An appeals court has dismissed a second attempt by Meta and Instagram to shut down a misuse of market power case by a Melbourne-based social media startup.
If evidence were needed that courts are not rubber stamping class action settlements, the scrutiny of multi-million dollar agreements in 2021 is proof positive that judicial oversight of representative proceedings is robust.
Class action settlement totals skyrocketed to over $900 million last year, and one law firm negotiated the lion's share, with $672 million in settlements under its belt.
More than 18 months after a split emerged among the courts, the Full Federal Court will weigh in on whether judges have power to shut out unregistered group members from a class action. But given the breadth of the question for the appeals court, the issue is unlikely to be resolved there.
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.
Fearing passage of a contentious bill in parliament that threatens to curb open class actions, plaintiffs law firms and funders have raced to court with new cases in the past two weeks.