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A failure by software firm Nuix to meet internal budgets ahead of its $1.8 billion IPO in 2020 was the result of “ambitious targets” to incentivise the company's sales staff, a court was told Tuesday.
Victorian Premier Ben Carroll has delayed a new law that would allow employees to work from home two days a week and make employers cover the reasonable costs of the arrangement after pushback from business.
A mid-trial fight has erupted in a class action over the collapse of steelmaker Arrium, with the company's auditor and directors saying the case had swerved, and the plaintiff accusing the respondents of "playing games".
A judge has found that Shine Lawyers breached its obligations to the court by extending the life of a void 2022 proceeding and then filing a new case over the same claim.
Construction PRO
Lawyers for LBJ Developments have told a judge that its joint venture partners on a development at the former Lilydale quarry breached their obligations by failing to honour a contractual right to tender for quarry filling works at the site.
A judge has slammed NAB for failing to comply with court orders in a negligence case against the bank, calling its actions "discourteous and unacceptable".
Construction PRO
The High Court has declined to review a ruling from the Victorian Court of Appeal that found domestic building insurance policies do not respond to when a defect arises, but rather to when loss or damage is suffered.
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”.