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.
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Phi Finney McDonald has moved to new premises. From today, Monday 18th June, our office in Melbourne is based at Level 4, 325 Flinders Lane, Melbourne VIC 3000, and our new phone number is +61 (0)3 9134 7100.
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”