Australian Politics Forum - Has anyone been in a class action?

Sophia Gold Member Offline Posts: 8476	Has anyone been in a class action? Dec 4^th, 2024 at 5:59pm I’m included in one… but I have the choice to opt out. I need to understand all this before I decide. Law and court stuff scares me.
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Gnads Gold Member Offline Australian Politics Posts: 29532 Gender:	Re: Has anyone been in a class action? Reply #1 - Dec 4^th, 2024 at 6:29pm In a class action you are represented by a Law Firm ... some people may be called as witnesses - not all. Most is done on a No win No fee.
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Aquarius

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Re: Has anyone been in a class action?
Reply #2 - Dec 4^th, 2024 at 8:51pm

Nope. Probably wouldn't either if the story on A Current Affair the other night is typical of these class actions.

Of the $57.5 million settlement from ANZ, the law firm that ran the case - Phi Finney McDonald, pocketed $34.5 million, leaving thousands of victims to share the remaining $23 million which meant they only received around $10 - one only got a bit over $3.

It's always the law firm that makes a massive profit from these class actions.

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Sophia

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Re: Has anyone been in a class action?
Reply #3 - Dec 4^th, 2024 at 9:06pm

That’s the thing… going to federal court in Melbourne for goodness knows how long the case gets dragged out.
If the case wins then the solicitors against this big firm take their pay out of the winnings and the rest gets divided up amongst the rest of us… and I have no idea how many of “us” there are.

If the case loses, we pay nothing to the solicitors acting on our behalf, but I ask… who pays for the other side (the big firm and their lawyers) that are based in USA and Australia

I have until end of January 2025 for an opt out.

I will ponder and decide by mid Jan but will contact the lawyers for the class action to find out more.

I’m not sure of mentioning who or what it is about publicly… but once the situation is finished … however long it takes…. I will then say something.

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freediver Gold Member Offline www.ozpolitic.com Posts: 49030 At my desk.	Re: Has anyone been in a class action? Reply #4 - Dec 5^th, 2024 at 12:40pm I suspect that if you opt out, you will likely end up with even less.
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Vic

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Re: Has anyone been in a class action?
Reply #5 - Dec 5^th, 2024 at 12:49pm

We bought a car many years ago from Honda and accepted their finance offer as it was lower interest than the banks. We paid extra for an extension of warranty and some other charges. About 4 years ago we received an invitation to join a class action against Honda and Macquarie Bank. Once again, it was no win-no fee and a written guarantee that we would not be liable for anything if the case folded. Last year, we received a cheque for 1500 as our share of the payout. I don’t think it even went to court!

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Sophia

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Re: Has anyone been in a class action?
Reply #6 - Dec 5^th, 2024 at 1:08pm

freediver wrote on Dec 5^th, 2024 at 12:40pm:

I suspect that if you opt out, you will likely end up with even less.

All I want to make sure about… is if the global giant wins… will we have the class action group be liable for any payments for their legal costs?
I have read it’s no win non pay… of solicitors for the class action.

I just decided to look it up and it’s online, so not something to hush about. Except maybe certain details.
There’s 3,500 of us in this class action.

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Sophia Gold Member Offline Posts: 8476	Re: Has anyone been in a class action? Reply #7 - Dec 5^th, 2024 at 2:05pm I think this means what I think it means. An answer to what I was asking before RE: costs if case is lost I’ve just blotted our name of lawyers acting for the class. They do a no win no pay, and they agree to pay other side’s costs. Wow they must be pretty confident to do that?
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chimera Gold Member Offline Australian Politics Posts: 11471 armidale Gender:	Re: Has anyone been in a class action? Reply #8 - Dec 5^th, 2024 at 2:25pm Sounds OK. It may be a good idea to slowly read every detail to make double sure. You could even get a solicitor to read it through.
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Bobby. Gold Member Offline Australian Politics Posts: 104847 Melbourne Gender:	Re: Has anyone been in a class action? Reply #9 - Dec 5^th, 2024 at 2:53pm chimera wrote on Dec 5^th, 2024 at 2:25pm: Sounds OK. It may be a good idea to slowly read every detail to make double sure. You could even get a solicitor to read it through. What if the legal firm goes bankrupt from an enormous case cost? Could you be liable then for the fees?
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chimera Gold Member Offline Australian Politics Posts: 11471 armidale Gender:	Re: Has anyone been in a class action? Reply #10 - Dec 5^th, 2024 at 3:19pm Yes if you agree to make a contract to donate cash to the struggling company and its lawyers. Or the judge may insist that you support them (and your bankrupt lawyer), for justice for lawyers.
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Bobby.

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Re: Has anyone been in a class action?
Reply #11 - Dec 5^th, 2024 at 3:31pm

chimera wrote on Dec 5^th, 2024 at 3:19pm:

Yes if you agree to make a contract to donate cash to the struggling company and its lawyers. Or the judge may insist that you support them (and your bankrupt lawyer), for justice for lawyers.

The first rule about lawyers is to remember -
they are not your friends -
they are after money and they are ruthless.

In Australia they are allowed to go after your house to get paid
even if they were your lawyer that you hired to defend yourself.

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Sprintcyclist

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Re: Has anyone been in a class action?
Reply #12 - Dec 5^th, 2024 at 4:27pm

Aquarius wrote on Dec 4^th, 2024 at 8:51pm:

Nope. Probably wouldn't either if the story on A Current Affair the other night is typical of these class actions.

Of the $57.5 million settlement from ANZ, the law firm that ran the case - Phi Finney McDonald, pocketed $34.5 million, leaving thousands of victims to share the remaining $23 million which meant they only received around $10 - one only got a bit over $3.

It's always the law firm that makes a massive profit from these class actions.

Yes, the lawyers are not there to help you

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Modern Classic Right Wing

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Jasin Gold Member Offline Posts: 48355 Gender:	Re: Has anyone been in a class action? Reply #13 - Dec 5^th, 2024 at 4:30pm What would Aussie, the ex lawyer have to say about this?🤔
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Sophia Gold Member Offline Posts: 8476	Re: Has anyone been in a class action? Reply #14 - Dec 5^th, 2024 at 5:37pm Jasin wrote on Dec 5^th, 2024 at 4:30pm: What would Aussie, the ex lawyer have to say about this?🤔 You read my mind… that’s what I was wondering earlier too! I might take this link to him as he may not have seen it.
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