The Court granted a group costs order at 27.5% of any award or settlement in a securities class action, finding this rate appropriate to ensure justice is done in the proceeding. The Court held that certainty, transparency and simplicity of a GCO, combined with evidence that alternative funding would likely be more expensive for group members, justified the order. The Court confirmed that detailed financial viability analysis of the law firm is not required where there is no competing proceeding, and that portfolio financing arrangements between law firms and funders can support lower GCO rates than traditional litigation funding.
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