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IMF and Blackburn still seeking claimants

22 September 2010 4:39PM
Four months after litigation funder IMF (Australia), its associate Financial Redress and Melbourne Labor law firm Maurice Blackburn whipped up a media frenzy over a planned class action against banks, a claim is yet to see the light of day.One reason may be that the proponents lack numbers. They appear to be still recruiting claimants.Activist group GetUp last night pitched the merits of the class action to members of its list.GetUp's arguments echo those of IMF and Blackburn. The group directs members to a website that urges readers to "join the class action".The three firms spruiking this class action claimed at the start of their public relations extravaganza that claimants were signing up at the rate of 1000 per hour. Estimated claimant numbers soon exceeded 100,000.No actual claim is yet to emerge from those pushing the claim, which might be normal legal process.Other factors might also be at play, if the latest target marketing is any guide.GetUp suggests any members who succeed in their collective claim turn over some of the proceeds to the cause.The bank penalty fees case is thus serving a dual role as a political fundraiser.

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