Maurice Blackburn has launched a rare competition class action against five global investment banks over a conspiracy to manipulate foreign exchange rates that has spawned class actions and lawsuits by regulators across the globe.
Mortgage lending and investment firm RMBL Investments has been ordered to withdraw all communications with its customers that encouraged them to opt-out of a consumer protection class action against the firm.
A judge’s decision to pick Maurice Blackburn’s no win, no fee class action against AMP over three funded class actions puts the pressure on litigation funders, which will now face more competition from law firms prepared to go it alone, experts say. The ruling also shows the value courts place on funding arrangements that seek to maximise returns for class members, which means class action beauty parades are sure to get less ugly.
Crown Resorts has appealed a ruling in a shareholder class action against it allowing 18 former employees, who were jailed as part of the Chinese government’s crackdown on gambling, to answer questions about its business in China.
A judge has raised questions about a redacted funding agreement in a class action against two IAG units over allegedly worthless add-on insurance products, saying the details were needed for a swift resolution of the case.
The High Court will not review an appeals court’s decision to approve a $64 million settlement in litigation over the failure of Banksia Securities while rejecting the funder’s commission and legal fees.
Parties in an ongoing four-and-a-half year long investor class action against Fitch Ratings have agreed to a second round of mediation after a prior attempt was adjourned without success.
Maurice Blackburn’s shareholder class action against AMP — the only action not backed by a litigation funder — has been picked as the winner in a fierce battle of law firms vying to lead a high stakes case over the wealth manager’s fees for no service scandal.
A hearing scheduled for later this year in several class actions and an ACCC proceeding over allegations Volkswagen installed dual-mode software in diesel vehicles to cheat on emissions tests has been postponed, despite cries of prejudice from the consumer regulator.
One of two lead applicants in the settled Arasor shareholder class action has been denied leave to be heard over its $1 million personal expenses dispute with litigation funder International Litigation Partners after missing a filing deadline, with a judge calling its handling of the case “shambolic”.