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With two historic court wins for shareholders, 2026 is shaping up to be a momentous year for securities class actions, with lawyers expecting a resurgence of cases and a renewed eagerness for the negotiating table.
A shareholder class action against Arrium directors and auditor KPMG over the $4 billion collapse of the steel manufacturer is seeking to amend its case, saying a “misreading” of the original pleading is no basis to refuse the application.
ASIC is investigating Corporate Travel Management and its auditor PwC, after the travel management company said it would reverse $220 million in revenue after a review found it had overcharged customers.
A shareholder class action against engineering services firm Worley has prevailed after a hard-fought battle over damages, in a major decision following two trips to the Full Federal Court.
A judge has rejected a bid by a shareholder class action against water treatment firm Phoslock and auditor KPMG to put off paying $1.6 million in overdue cash security while negotiations about an ATE policy are on foot.
The Commonwealth Bank has urged the High Court to uphold a ruling rejecting shareholders' damages claims in two class actions, saying the decision correctly rejected their "conflation of materiality with loss".
ASIC has wrapped up its case against regional airline Rex without evidence from its former executive chairman, who reversed course this week and admitted he misled investors and breached his directors duties.
ASIC is appealing the dismissal of its case against software company Nuix over representations in a prospectus for its $1.7 billion float, saying it was concerned the court got it wrong.
The ASX is fighting for a key witness in ASIC’s case over alleged misleading statements concerning its CHESS replacement program to appear at an upcoming trial, saying he needs to be cross-examined in person.
The former executive chairman at regional airline Rex has admitted ASIC’s claims that he misled investors about the company’s position and breached his directors duties and may give evidence for the corporate watchdog, a court has heard.