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‘Completely unfounded’ that PwC didn’t challenge budget, Nuix says
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.
Savills loses bid to toss sexual harassment suit
US real estate firm Savills has failed to summarily dismiss a lawsuit alleging sexual harassment, which a judge said if true "indicated a culture of discriminatory sexist behaviour of a serious kind".
Hotel quarantine case can narrow class definition but not retrospectively
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.
Nuix class action first to test statutory due diligence defence, court told
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.
Construction PRO
Builder loses appeal in row with subcontractor on $55M Fortis project
Alliance Living has failed on appeal of a security for costs order in a dispute with a subcontractor on a project to restore Sydney's Gaden House, with NSW's top court saying the builder's failure to pay a judgment debt was relevant.
KPMG failed to square contradictory evidence in Arrium accounts, court told
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.
‘Worse than terrible’: Class action tells trial Nuix IPO should not have gone ahead
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".
‘Systemic overoptimism’ left $2B impairment off Arrium books, court told
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.
Construction PRO
Urbex sues over $59M contract for Melbourne development
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.
Sportsbet ‘promised’ punters ‘fast code’ system was legal, class action tells court
Sportsbet's 'fast code' betting system was not a genuine telephone betting service because customers had already transmitted  information before making the call, according to a class action which argues punters would not have placed bets had they known the system was illegal.