Andy Sidler

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".

A judge has granted Johnson & Johnson's bid for soft class closure in a class action over alleged ineffective cold medications, saying it would aid in settlement negotiations. 

The corporate regulator has sought court declarations against super trustee Netwealth over the failed First Guardian investment fund, which along with the collapsed Shield is believed responsible for $1 billion in losses.

Law firm Mallesons, which is named in proceedings brought by failed property developer FSM, has denied it knew that a former director used company loans to pay off personal debts.

KPMG has told a judge there is no evidence that Arrium's share price would have changed even if it had recorded a $2.8 billion impairment, urging the judge to reject the shareholder class action's "intuitive" case on loss. 

Peabody Energy has paid $5 million to mine workers who were shortchanged, after the coal producer admitted it misunderstood employees' entitlements under the Award. 

Former directors of steelmaker Arrium have rejected shareholder class action claims that the company's collapse was foreseeable, calling claims they had their heads in the sand “arrant nonsense”. 

KPMG failed to bring the necessary scepticism to the task of auditing failing steel manufacturer Arrium, instead leaving contradictory evidence unresolved and giving the company a clean bill of health, a shareholder class action has told the court.

A shareholder class action against KPMG and ex-Arrium directors says the company's accounts were infected by "chronic and systemic overoptimism", with the former operator of Whyalla Steelworks portraying as viable a business that was impaired up to $2.8 billion.

An entity associated with lender Keyview Investment Management wants to strike out a claim brought by the liquidators of defunct developer FSM Development, which has brought proceedings against a raft of defendants, including law firm Mallesons.