Victoria

KPMG has told a judge there is no evidence that Arrium's share price would have changed even if it had recorded a $2.8 billion impairment, urging the judge to reject the shareholder class action's "intuitive" case on loss. 

Macquarie Capital has taken aim at the expert evidence of a shareholder class action over Nuix's IPO, saying it was "completely inadmissible" because the expert had answered legal questions that fell outside his expertise.

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”. 

Hitting back at trial in a shareholder class action, software company Nuix has told a judge it was “completely unfounded” to allege auditor PwC did not push back on management’s claims about its budget.

A judge has given the nod to an amendment in a class action over Victoria's COVID-era hotel quarantine program that will exclude non-retail and hospitality businesses, but he won't make the order operate retrospectively.

A shareholder class action against Nuix is the first to test statutory due diligence defences available under the Corporations Act, a court heard Tuesday, when the class action took the court to internal emails describing the company as "tragically hopeless" at winning new business.

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.

Developer Urbex has launched proceedings seeking the return of a $2.85 million deposit on a $59 million contract to buy a development site in Melbourne's east, saying it validly terminated the agreement after an adverse contamination and geotechnical report.