Last month, law firm Phi Finney McDonald and funder Therium Capital Management bested the competition in their bid to become class counsel in the GetSwift class action claim. The landmark decision by an Australian Federal Court to continue one proceeding and permanently stay the other two is seen as a harbinger of things to come, as Australia grapples with a boom in class actions, and lawmakers debate how best to modify the country’s legal framework accordingly.
Boutique Melbourne law firm Phi Finney McDonald will lead the sole class action on behalf of aggrieved investors in logistics business GetSwift, after a Federal Court judge on Wednesday permanently stayed two other competing class actions.
Jeff Whalley, Herald Sun
FOUR giant US pension funds are preparing to sue the Commonwealth Bank in a move dramatically widening the fallout from the money-laundering scandal that has engulfed the lender.
The pension funds — including the $US224 billion ($292 billion) California State Teachers’ Retirement System — are among “a significant number” of institutions planning to launch a fresh class action against the bank.
It marks a bombshell for new CBA chief Matt Comyn, who took the reins of Australia’s biggest bank yesterday. Continue reading “CBA class action: Giant US pension funds to sue Commonwealth Bank over Austrac scandal”
Residential aged care provider Estia is facing the threat of a class action over its 2016 financial year results and the guidance it gave for the 2017 year.
Sydney litigation firm Phi Finney McDonald is gathering shareholder support for a proposed class action that will be funded by Investor Claim Partner.