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On his fourth day giving evidence in a shareholder class action trial, Arrium’s former CEO has denied that the company relied on overly optimistic assumptions when making forecasts about its business, despite a history of missed targets.
Collapsed steelmaker Arrium's former chief executive has testified during a shareholder class action trial that a five-year business plan projecting a 'V-shaped' turnaround was not an unrealistic pipe dream.
Facing cross-examination in a shareholder class action over Nuix's allegedly misleading IPO prospectus, a senior Macquarie executive has testified that he was comforted by two US law firms' finding that there was nothing untrue in the document.
A massive dip in the price of iron ore in 2014 did not ring alarm bells for failed Arrium's then CEO, a court has heard, with the former boss denying that a capital raising that year was an urgent measure in the face of the potentially 'catastrophic' drop.
A shareholder class action against Nuix and underwriter Macquarie over the software company's float on the ASX has trimmed its case against the company's former chairman the third week into trial.
A judge has knocked back a class action’s bid to revise its claims against KPMG and former Arrium directors mid-trial, saying the amendments made for a "vastly different" case.
A former Macquarie director has given evidence that it would have been "prudent" for Nuix to have reduced its sales forecast, as a shareholder class action hearing over the software company's float on the ASX enters its third week.
Nuix's former boss Rod Vawdrey was almost ousted in 2019, a trial court heard Thursday, with a shareholder class action pointing to a board paper that referred to the software firm's “toxic, no-trust, fear-based culture”.
Arrium's former directors and auditor KPMG have lost a challenge to a key report relied on by shareholders in a class action over the collapsed steelmaker that says the company overstated the value of its assets.
A mid-trial amendment bid by shareholders in a class action over Arrium's collapse will delay cross-examination of the company's CEO and former directors, who told a judge Wednesday they should not be required to enter the witness box until the issue is resolved.