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Noumi and auditor Deloitte will pay $43 million to resolve a class action alleging the company misled investors about its inventory, and the class action will make a play for a $5 million penalty agreed to in ASIC proceedings.
Construction PRO
Commercial property firm DTZ Worldwide has lost its bid for $243 million in damages related to its acquisition of United Group from UGL Limited over United's alleged failure to disclose that a key contract was “loss-making”.
The corporate regulator has commenced an investigation into ASX’s one-day technical failure that prevented the settlement of trades on the CHESS system shortly before Christmas.
A judge has rejected a new pleading that would have upped the damages to $135 million in a case by a shareholder of failed energy company Armour Group alleging law firm Baker McKenzie was knowingly involved in a plan to take control of the company for cheap.
A shareholder class action has slammed as "nonsensical" Fletcher Building’s claim that a judge’s public comments in his previous role at Maurice Blackburn created an appearance of bias against corporate defendants.
A judge who was previously the head of class actions at Maurice Blackburn has questioned a bid by Fletcher Building that he recuse himself from presiding over a shareholder case against the construction company.
Group members will receive no less than 50 per cent of a $42.25 million settlement reached in a shareholder class action against engineering firm CIMIC.
Macquarie Capital has hit back at a class action over an alleged misleading prospectus for Nuix’s $1.8 billion IPO, saying it was entitled as underwriter to rely on the software company's promises.
The federal government will take on $50 million of Rex Airlines' debt to keep the troubled regional carrier flying.
A shareholder and creditor of failed energy company Armour Group will have to front $3.5 million in security in its case against law firm Baker McKenzie and others ahead of an upcoming trial.