Building materials giant James Hardie Industries is facing a class action alleging it breached its disclosure obligations over its adjusted net income forecasts for the 2023 financial year.
The possibility that a NSW judge will revoke a contingency fee order made in a class action over Arrium’s collapse is irrelevant to whether the proceedings should be transferred from Victoria to the appropriate forum, Arrium’s auditor KPMG has told a court.
ASIC has brought enforcement action against Vanguard Investments Australia, accusing the investment firm of misleading claims that its ethically conscious hedge fund screened securities for their environmental, social and good governance bona fides.
A Federal Court judge overseeing a class action against IG Markets over risky financial products has questioned whether courts should take a “more robust” approach to avoid the “nonsense” of competing class actions, amid the threat of a second class action being filed in the Supreme Court of Victoria.
A court has issued an injunction forcing the discontinuance of a negligence suit against accounting firm Pitcher Partners by the former owner of Zap Fitness, a case found to be barred by the terms of a settlement.
A court has queried Nuix’s claim for $500,000 in discovery expenses in an unsuccessful suit by former CEO Edward Sheehy over share options, and has said the legal bill of Sheehy would be taken into account in calculating Nuix’s costs.
The applicants in competing class actions against Downer EDI have set out their proposals for the courts overseeing the cases, with two calling for orders staying the proceedings of their rivals, and another seeking consolidation.
Beach Energy has struck back at a shareholder class action over alleged misleading earnings projections for its oil and gas reserves in the Cooper Basin, saying it had reasonable grounds for its rosy predictions for production.
Retail broker Openmarkets has paid the largest ever penalty handed down by ASIC’s markets disciplinary panel, with the regulator also banning its former trading head for three years.
GetSwift director Joel Macdonald still has not been served almost a year after his former Melbourne Demons teammate James Strauss filed a $15 million lawsuit against him, with a judge adjourning yet another substituted service application.