In light of these outcomes, we take a look at some of the largest class-action lawsuits around the world.
ANZ (2013)
Status: Pending
Amount: Claiming $243 million.
The lawsuit is the first of eight planned class actions against the bank launched Monday, December 2. The case, representing 43,500 ANZ customers, claims many of the bank’s fees were illegal and disproportionate. It is the to date.
Diageo (2013)
Status: Settled
Amount: $89 million (additional $6.5 million for costs)
The settlement applies to Australian and New Zealand Victims of morning sickness drug, Thalidomide. The drugs were given to pregnant women in the 1960s, causing in their children. Several Thalidomide victims were in court when the settlement was announced.
Lehman Brothers (2013)
Stage: Ongoing
Amount: Estimated $550 million.
Australian creditors involved in a have reached a conditional settlement. Liquidators PPB Advisory said the company hoped to make distributions to all creditors early 2014.
Tyco International (2007)
Status: Settled
Amount: $3.2 billion
In January 2003, a number of were filed against Tyco International Ltd, former employees of the company, and PricewaterhouseCoopers. The group alleged that the defendant individuals and companies had made inaccurate and misleading public statements about Tyco International's finances.
Enron (2006)
Status: Settled
Amount: $7.2 billion
US energy company Enron, along with numerous individuals linked to the company and its accountant, was after the company folded and its shares became worthless in 2001.
AOL Time Warner (2005)
Status: Settled
Amount: $2.5 billion
American media giant AOL Time Warner was sued by investors for fraud in 2002 and reached a settlement agreement in 2005. The group alleged Time Warner had improperly recorded numerous advertising transactions between 1999 and 2002.
WorldCom (2005)
Status: Settled
Amount: $6.2 billion
Investors in WorldCom between 1999 and 2002 joined to and many of its employees, including CEO Bernard Ebbers and Accounting Director Buford Yates for fraud after it was revealed the telecommunications company had falsified its books to appear profitable when it was in fact losing money.
Exxon Mobil (2001)
Status: Judgment
Amount: $5 billion – this amount was later reduced to $500 million.
This lawsuit related to the , which affected thousands of people living and working along the coastline. ExxonMobil was ordered to pay punitive damages and interest to thousands who were harmed by the spill. This was ruled excessive at an appeal in 2001 and reduced to $507.5 million.
Tobacco giants (1998)
Status: Settled
Amount: $206 billion over 25 years.
A class action in made by attorney generals in 46 US states to address the recovery of smoking-related healthcare costs resulted in a joint agreement between six major organisations.
Tobacco companies Brown & Williamson, Lorillard, Philip Morris, R.J. Reynolds, Commonwealth Tobacco and Liggett & Myers signed the in 1998, which involved a $206 billion payout over five years and released them from further litigation in state courts.
Dow Corning, Baxter, Bristol-Meyers Squibb/MEC, 3M (1994)
Status: Settled
Amount: $3.4 billion
Women claiming to have suffered autoimmune disease from their silicone breast implants settled a class-action lawsuit against major breast implant manufacturers Dow Corning, Baxter, Bristol-Meyers Squibb/MEC, 3M in 1994. It was the largest class action lawsuit in history at that time.
