group of class action lawyers in Australia “are facing a criminal investigation and a damages bill of more than $11.7 million for ‘dishonourable’ and ‘fraudulent’” conduct, reports the Australian Financial Times. The lawyers and litigation funder involved attempted “to claim more than $19 million in legal and funding fees from a group of elderly investors in the Banksia class action.”

he Australian Federal Government is looking to put an end to the excessive fees charged by class action litigation funders and lawyers. On September 30, the government released its long-awaited proposals for the regulation of the litigation funding industry.

The Australian Parliament has just passed legislation to reform Australia’s corporate disclosure rules.