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Nuix has pointed the finger at its accountant PricewaterhouseCoopers in the software company’s defence to a class action over a prospectus for its $1.8 billion IPO two years ago.
CBA says disclosing money laundering failures would have misled the market
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The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.
Class action can’t get its hands on AMP, Clayton Utz emails
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A judge overseeing a class action over AMP’s fees for no service practice has dismissed the applicant’s bid to access communications between AMP and law firm Clayton Utz that led up to an ostensibly independent report that allegedly went through 25 rounds of edits with the wealth manager’s inhouse lawyers.
In light rail class action trial, NSW government denies it ‘sat back and did nothing’
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The New South Wales government has rejected a class action’s claims that it dropped the ball in relation to the identification and management of underground utilities which caused delays in Sydney’s $3 billion light rail project.
Bill ushering in $50M penalties for privacy breaches clears hurdle
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Legislation introduced in the wake of massive cyberattacks against Optus and Medibank that will increase penalties for serious privacy law violations to $50 million has sailed through the House just two weeks after being introduced.
Fiat Chrysler accused of sacking GM for taking leave
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The former general manager of sales for Fiat Chrysler Australia has sued the car company for allegedly terminating him for taking two periods of leave after being diagnosed with an auto-immune condition.
Liberty Financial appeals partial victory for ATO
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Liberty Financial unit Minerva has challenged a judgment that found two schemes it carried out were done with the primary purpose of securing a tax advantage.
Medibank faces potential class action over breach as hacker posts data
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A class action investigation over the data breach that exposed the personal information of almost 10 million Medibank customers is underway, with two law firms teaming up to probe whether the private health insurer is liable for damages.
Trial pokes holes in CBA’s claim of ‘cordial’ relationship with AUSTRAC
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While CBA’s defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.
Court approves GCO in Noumi class action but may review lawyers’ cut
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A judge has signed off on a group costs order in a shareholder class action against food company Noumi and auditor Deloitte guaranteeing group members a return of at least 78 per cent, but noted the law firms’ cut may need to be reviewed to avoid a “disproportionate return”.