The Court granted a group costs order at 27.5% of any award or settlement in a shareholder class action arising from Medibank's 2022 data breach. The Court held that the order was appropriate to ensure justice despite the involvement of a litigation funder (Regency) in the funding arrangements and the risk that solicitors might terminate their retainers if alternative funding could not be secured. The Court confirmed that a group costs order provides certainty, transparency and simplicity for group members compared to third-party litigation funding models.
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