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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”.
The fallacy that shareholders must precisely prove the amount of loss caused by a listed company's breaches has finally been exposed by the Full Federal Court, a trial judge has been told in a class action over the collapse of steel maker Arrium.
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 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".
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.
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.
Web Travel Group has been hit with a class action by investors who say the value of their shares plummeted after misleading 2025 earnings guidance was corrected.
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.
A judge has ruled that former Noumi CEO Rory Macleod failed to ensure the company complied with its financial reporting obligations, but found several of the corporate regulator’s claims fell flat.
A judge has ordered a class action against Fitch to fork over $12.4 million in security, refusing to discount the sum for what the class action called the company's 'Rolls-Royce' defence.