Private Funding For Class Actions Clears In Australia

Law360, New York (November 20, 2006, 12:00 AM EST) -- A recent decision by Australia’s High Court has cleared the way for private lending companies to fund class action lawsuits, setting the stage for an increase in follow-on litigation in antitrust and securities disputes, lawyers say.

The potential fallout from the High Court’s decision was highlighted last week when members of an alleged vitamins cartel agreed to a $30.5 million settlement in Australia’s first cartel-related class action suit.

For companies hoping to profit off the legal complaints of cash-strapped would-be plaintiffs, the vitamins settlement demonstrates the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.