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Hitting back at trial in a shareholder class action, software company Nuix has told a judge it was “completely unfounded” to allege auditor PwC did not push back on management’s claims about its budget.
A shareholder class action against Nuix is the first to test statutory due diligence defences available under the Corporations Act, a court heard Tuesday, when the class action took the court to internal emails describing the company as "tragically hopeless" at winning new business.
A shareholder class action against Nuix has argued that its IPO should never have gone ahead, taking the court to email exchanges about its history of disappointing results, which the tech company's former CFO called "worse than terrible".
As proof of its popularity as a class action jurisdiction, the Supreme Court of Victoria will hear opening submissions in three class action trials on Monday, an unprecedented number in a single day for the court.
Two Deloitte reports commissioned by a Swiss law firm for Credit Suisse are protected by legal professional privilege despite access given to financial regulators investigating the collapse of supply chain financier Greensill.
A potential issue has arisen in a shareholder class action against Light & Wonder over an employee's theft of rival Aristocrat's trade secrets, with the court hearing the gaming company's $190 million settlement with Aristocrat requires it to destroy documents that could be relevant to the case.
Construction PRO
REST Nominees has lost an injunction bid barring the sale of the Dexus bloc of shares in Melbourne Airport's operator pending an appeal, after refusing to give an undertaking that it foot the entire damages bill if its challenge fails.
A judge is not too thrilled about the ACCC's bid for details of Microsoft's defence in a suit alleging the software giant duped millions of customers into upgrading to more expensive product plans, saying "it pains me the court has to take time" to hear the application.
The sole director of WA insurance broker Dynamic Insurance can't represent the company in its competition suit against insurance broking network Steadfast Group and insurers QBE and Allianz, with a judge finding the company would be better off hiring a lawyer.
Software start-up Dovetail has resolved a lawsuit by its legal counsel the accused the boss of sexually assaulting her during a coercive relationship and claimed the head of HR failed to support her.