Law firm Maurice Blackburn said their clients want to recover income they claim is lost as a result of Uber allegedly operating without proper licences for their drivers and vehicles. “It is shaping (up) as one of the largest class actions in Australian history,” said the firm’s head of class actions Andrew Watson. “Make no mistake, this will be a landmark case regarding the alleged illegal …
Law firm Maurice Blackburn said their clients want to recover income they claim is lost as a result of Uber allegedly operating without proper licences for their drivers and vehicles. “It is shaping (up) as one of the largest class actions in Australian history,” said the firm’s head of class actions Andrew Watson. “Make no mistake, this will be a landmark case regarding the alleged illegal …
Recent years have borne witness to the nascent rise of third-party litigation funding (TPLF) of commercial litigation in legal markets across the globe. Beginning over a decade ago in Australia, TPLF spread quickly to the UK, the US, Canada, Europe and Asia. TPLF itself has undergone rapid changes in its short existence. Though the traditional model of single-funded cases is still the main modus operandi, funders have diversified their business model in the last 12 months, including investments in claims-aggregating firms, joint ventures with law firms directed at prosecuting certain claims, and post-judgment appeals funding. Commercial funders and commercial litigators are becoming increasingly consociated, however, the interests of funders and litigators necessarily diverge given that lawyers owe a fiduciary duty to their clients. TPLF represents the biggest change to the commercial litigation landscape, raising novel …
Australia is suing the local arm of Volkswagen for allegedly misleading customers by selling modified vehicles that covered up emissions fraud. Its consumer watchdog claims Volkswagen intentionally sold more than 57,000 such vehicles over a five-year period. The Australian Competition and Consumer Commission (ACCC) is seeking a public declaration of misconduct, financial penalties and …
Governments, investors and car owners around the world are gaining ground in efforts to pressure Volkswagen AGVLKAY -0.82 % for settlements over its emissions-cheating scandal, aiming for terms similar to a $15 billion U.S. agreement. From Australia to South Korea to Ireland, governments and consumers are ratcheting up legal and regulatory demands in part because such moves in the U.S. yielded …
Australia’s four biggest banks said on Thursday they were among 17 global lenders being sued by U.S. funds for alleged benchmark interest rate rigging, denying the claims and pledging to contest the action. The suit follows ongoing court action on the matter by Australian regulators, and comes amid increasing scrutiny by global watchdogs on potential market manipulation. Recent investigations …