A Federal Court judge on Friday reluctantly approved a $12 million settlement in the long-running class action against Bank of Queensland, saying it left almost nothing for those affected by the notorious Sherwin Ponzi scheme.
A decision on the fate of three class actions against logistics software company GetSwift is set for Wednesday, and counsel behind the competing cases aren’t the only lawyers waiting with baited breath.
AMP appeared in court Friday to defend the first of five class actions filed on behalf of shareholders in the wake of damaging Royal Commission hearings into its conduct over advice fees.
The financing arrangement underwriting Quinn Emanuel’s shareholder class action against AMP, which will earn its partner Burford Capital a record low 10 percent of any recovery, sets a new standard in class action litigation funding, and is expected to spark greater price competition in the industry.
A bidding war erupted Tuesday among law firms angling to lead a $2 billion shareholder class action against AMP, with Maurice Blackburn announcing a “super deal” and Quinn Emanuel besting that with a funding arrangement to “shake up” the market.
Toyota was on notice about problems with Takata airbags 15 years ago, after a Takata inflator ruptured at one of the car maker’s testing facilities, according to new claims in a class action.
Law firm Quinn Emanuel has filed the first shareholder class action against AMP ahead of the beleaguered company’s annual general meeting on Thursday.
Quinn Emanuel has been forced to bow out as class action counsel in a case against Bank of Queensland after litigation funder Vannin Capital called for the law firm’s $4 million fee to be challenged.
The judge presiding over jostling shareholder class actions against logistics software company GetSwift suggested on Tuesday a “bill of peace” to join the actions, but lawyers leading the competing cases warned of the “economic hazard” of a merger.
Business litigation firm Quinn Emanuel Urquhart & Sullivan is examining a possible shareholder class action against AMP after the Royal Commission exposed damning revelations concerning the financial giant.