Trials
Arrium, KPMG class action stuck with $2.8B impairment claim: judge
A class action over the collapse of Arrium is bound to its pleading that the asset value of all the steelmaker's business units was impaired by a total of $2.8 billion, a judge has ruled in the second week of trial.
Class Actions
Star calls for $6.5M from class action firm, cites illiquid WIP assets
Slater & Gordon should pay $6.5 million in security in a shareholder class action against Star, the casino giant says, citing concerns about the law firm’s ability to foot its costs if the case fails.
Securities
Nuix points to ‘ambitious’ sales targets for failure to meet budgets
A failure by software firm Nuix to meet internal budgets ahead of its $1.8 billion IPO in 2020 was the result of “ambitious targets” to incentivise the company's sales staff, a court was told Tuesday.
Appeals
Domino’s to appeal loss in underpayments class action
Pizza chain Domino's has confirmed that it will appeal a judge's finding that it misled franchisees on the pay its workers were entitled to, leaving them shortchanged.
Policy and Regulation
Victorian premier delays WFH laws
Victorian Premier Ben Carroll has delayed a new law that would allow employees to work from home two days a week and make employers cover the reasonable costs of the arrangement after pushback from business.
Social Media
Social media execs to front hearing over tougher kids ban penalties
Representatives from Meta, Google, TikTok and Snap will front a Senate hearing this week over whether they should face penalties of up to $99 million for failing to comply with new rules barring children under 16 from accessing their platforms.
Employment
Lawyer called out by judge for ‘heckling’ counsel from bar table
A judge has described as a "deplorable lapse of decorum" the conduct of a lawyer who "heckled" an opponent in a dispute over costs in an employment case.
Business of Law
Norton Rose hires corporate partner from Baker McKenzie
Norton Rose Fulbright has hired the former co-head of Baker McKenzie's Australian healthcare and life sciences group to join its corporate practice group in Sydney.
Trials
Arrium directors, KPMG deny ‘playing games’ in class action trial
A mid-trial fight has erupted in a class action over the collapse of steelmaker Arrium, with the company's auditor and directors saying the case had swerved, and the plaintiff accusing the respondents of "playing games".
Privacy & Cybersecurity
Bendigo Bank to cop $8M penalty from APRA over cyber breach
Bendigo and Adelaide Bank has been hit with enforcement action by the prudential regulator for cybersecurity failures by a former business, and has agreed to an $8 million penalty.
