Payments processing company EML has hit back at a shareholder class action over its alleged failure to disclose Ireland central bank’s concerns about its anti-money laundering and counter terrorism financing compliance, claiming swathes of the case are liable to be struck out.
The value of assets held by companies linked to the late Banksia Securities class action funder is expected to top the $19 million owing on a court judgment against the fraudster and his c0-conspirators.
A judge has approved a $5 million class action settlement against payment processor Tyro over a service outage but has shredded the proposed funder payout and legal fees that would have comprised 60 per cent of the sum, calling the costs “outrageous”.
A contradictor in two pelvic mesh class actions against Johnson & Johnson and unit Ethicon has told the court of the “extraordinary amount of group member unhappiness” following approval of a $300 million settlement – the largest in the history of Australian product liability group proceedings.
Law firm Levitt Robinson has filed a second class action against the Western Australian government on behalf of inmates in the state’s Banksia Hill detention centre alleging unlawful disability and age discrimination.
The applicant in an investor class action over the collapse of advisory firm Linchpin Capital and Endeavour Securities has raised concerns about the authenticity of Linchpin’s business records, which it wants to put into evidence at trial in two months.
Customers of wealth manager Colonial First State were $10 million to $12 million better off without a litigation funder in a class action over the slow transfer of accounts to low cost MySuper funds, a judge has found.
A clash between a class action applicant and a litigation funder over $1.2 million in claimed expenses has settled, after a judge ordered the sides to personally attend mediation.
More class action law firms have pounced on Downer EDI’s “accounting irregularities” that led to the company overstating profits by up to $40 million.
A fed-up judge has vented his frustration with the problem of competing class actions in a move that appears to punish the second filed case against Medibank. But is he right that the courts are increasingly being asked to deal with duplicative proceedings? And was his order really all that drastic?