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There is a time for everything, as Ecclesiastes says, but who has time for class actions that plead everything and the kitchen sink, a vexed judge wants to know, calling on litigants to home in on the real contest in their cases.
A judge has ruled that building materials giant Boral breached its continuous disclosure obligations, in a win for a class action, but will wait on the High Court's ruling in cases against CBA before deciding whether shareholders have established damages.
ASIC has won its case alleging health and beauty giant McPherson’s breached its continuous disclosure obligations and engaged in misleading or deceptive conduct by failing to update the market sooner about declining sales forecasts for its Dr LeWinn's skincare line.
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.
Fiducian Investment Management has copped a $7.3 million penalty after admitting that it made misleading representations about the ESG credentials of an investment fund, despite senior execs being warned about its exposure to fossil fuels.
An email from Nuix's former CFO that referred to financial results as “worse than terrible” was an attempt to push the sales team to meet targets, a trial court has heard in a class action alleging misleading market disclosures ahead of the software firm's $1.8 billion IPO.
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.
An ASX shareholder is planning a derivative suit against former officers and directors over the bungled CHESS replacement project, after a judge found senior directors were involved in misleading investors about the project and slapped the ASX with a $20.5 million penalty.
A class action over the collapse of Arrium is bound to its pleading that the asset value of all the steelmaker's business units was impaired by a total of $2.8 billion, a judge has ruled in the second week of trial.