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    Ex-Arrium CEO Rejects 'Blind Optimism' Claim In Class Trial

    Former Arrium Ltd CEO Andrew Roberts rejected allegations on Thursday that he engaged in "blind optimism" regarding the mining and steelmaking company's future prospects ahead of its collapse, in his final day of testimony in a shareholder class action trial over allegedly misleading financial reports.

    A worker wearing a protective suit, helmet and mask holds a sample of glowing-hot metal at the end of a rod.

    Arrium Class Say Ex-CEO Ignored 'Inconvenient' Predictions

    A class of shareholders of collapsed steelmaker and miner Arrium Ltd. alleged at trial Tuesday that the company's former CEO Andrew Roberts willfully ignored pessimistic price predictions for iron ore prices when putting together allegedly misleading financial reports.

    Law Courts Building in Melbourne

    Arrium Class Can't Ease Burden With Late Pleading Fix

    The Victorian Supreme Court judge overseeing a class action against collapsed steelmaker and miner Arrium Ltd. over allegations of misleading financial reports, refused Monday to allow amended pleadings, leaving the plaintiffs a high bar to clear to prove their case.

  • August 21, 2026

    Struck-Off Lawyer Jailed For Holding Back Email Details

    A Victorian Supreme Court judge has ordered former solicitor Joseph Guss to spend a week in jail after he refused to hand over email login details to a manager appointed to his practice following the cancellation of his practising certificate for several instances of professional misconduct.

  • August 21, 2026

    Ex-KPMG Whistleblower Suit Targets Big Four Liability Caps

    A small public-interest case listed for trial in NSW's Supreme Court next year could expose the Big Four accounting firms to larger damages bills, forcing them to take accountability for "negligent, deceptive or misleading" advice given to clients, according to the ex-KPMG whistleblower behind the action Brendan Lyon.

  • August 21, 2026

    Shine Writes Down $13M In Surprise Class Action Ruling

    Class action law firm Shine Lawyers said an "unexpected" interlocutory judgment in an ongoing class action has forced it to write down $13.7 million from this year's earnings, though it is considering appealing the case.

  • August 20, 2026

    Ovanti Plans To Sue Former US CEO Amid BNPL Collapse

    Fintech firm Ovanti said it is preparing legal proceedings against the former CEO of its bankrupt US buy-now pay-later business, according to an Australian Securities Exchange statement on Thursday.

  • August 20, 2026

    White Oak Must Turn Over Greensill, Gupta WhatsApp Chats

    The Federal Court of Australia has ordered private lender White Oak to hand over WhatsApp messages between its executives, Greensill founder Lex Greensill and British billionaire Sanjeev Gupta that insurers say covered transactions similar to those at the heart of the multibillion-dollar litigation over Greensill Capital's collapse.

  • August 19, 2026

    Federal Court, UNSW To Probe Unrepresented Litigants

    The Federal Court of Australia and the University of New South Wales announced plans on Wednesday to deliver a comprehensive, evidence-based examination of unrepresented litigants amid a swell in cases and AI use.

  • August 19, 2026

    REST Avoids Full Costs After Failing To Halt Airport Stake Sale

    A New South Wales Supreme Court judge has ruled that REST Infrastructure Trust does not have to pay the full defendants' costs for its failed bid to halt the sale of its share of a roughly $4 billion Dexus-led stake in Melbourne and Launceston airports, saying the injunction request hadn't completely lacked merit.

  • August 18, 2026

    Ex-DRA CEO Loses Bid For Privileged Takeover Emails

    The former executive of a mining services company has lost his bid for access to correspondence involving shareholders who tried to take over the firm's board in 2022, despite a Federal Court judge saying he assumed the group had an "illegal purpose" in attempting to wrest control of more than 20% of its shares.

  • August 17, 2026

    Judge Backs Bendigo Bank In Brothel Debanking Row

    The owner of Melbourne brothel Gotham City has lost a bid to overturn Bendigo Bank's closure of his bank accounts due to suspicious activity, after a Supreme Court of Victoria judge dismissed his claims of discrimination and breaches of banking laws and account terms.

  • August 14, 2026

    Boral Liable In Investor Suit But Judge Waits Til CBA Ruling

    Construction supplier Boral has been found liable for continuous disclosure breaches over its failure to correct flawed earnings guidance in a class action in the Federal Court of Australia, with penalties to be decided following an upcoming High Court ruling on market causation in the Commonwealth Bank of Australia shareholder case.

  • August 13, 2026

    Arrium Judge Won't Exclude Key Class Expert

    A Victorian Supreme Court judge ruled at trial Thursday that a shareholder class suing over allegedly misleading financial reports made by collapsed steelmaker and miner Arrium Ltd could continue to use a key valuation expert supporting their case, rejecting the defendants' claims that he acted outside his expertise.

  • August 13, 2026

    Judge Rules McPherson, Ex-CEO Liable Over Sales Disclosure

    The Federal Court of Australia has found a skincare and consumer goods company misled investors by breaching its continuous disclosure obligations over forecasts for Dr LeWinn's skincare during a COVID-era sales slump, while its former CEO breached his duty of care by failing to ensure investors were informed in a timely manner.

  • August 12, 2026

    Meta Spoiled Evidence In Forrest Facebook Scam Suit: Judge

    A California federal judge has sanctioned Meta, finding the company failed to preserve key evidence in a lawsuit by Australian businessman Andrew Forrest over fraudulent Facebook advertisements that falsely used his name and likeness to promote cryptocurrency and investment scams, saying the spoliation prejudiced Forrest's case.

  • August 11, 2026

    Arrium Class Must Prove All Units Were Impaired, Judge Says

    A Victorian Supreme Court judge hearing a shareholder class action trial over allegedly misleading financial reports made by collapsed steelmaker and miner Arrium Ltd ruled on Tuesday that the class must specifically prove that all the company's business units faced financial impairments, narrowing its potential path for winning the case.

  • August 11, 2026

    Judge Won't Issue Interim Gag In 'Deposit Flicking' Dispute

    A New South Wales Supreme Court judge has declined to make an interim order preventing Jared Zak, founder of conveyancing firm Dott & Crossitt, from publicly calling the business model of law firm Agency Settlements illegal.

  • August 07, 2026

    Justice Murphy Defends Class Action System In Final Speech

    Justice Bernard Murphy has used his final speech as a Federal Court judge to champion Australia's class action system, saying he worked to "ensure that it was fair and equitable."

  • August 07, 2026

    Ex-Nuix Director Says IPO Allegations Not Properly Pleaded

    The Supreme Court of Victoria has heard that a class action centring on misleading IPO representations against software company Nuix, Macquarie Capital and former director Daniel Phillips failed to properly plead its case against Phillips.

  • August 06, 2026

    QB4 Loses Bid To Appeal Costs Orders In Guardian Dispute

    The Federal Court of Australia has dismissed asset manager QB4 Capital's bid to appeal costs orders in a dispute over about $520,000 in legal and audit fees, clearing the way for $8.5 million to finally be distributed to investors in Guardian Securities.

  • August 05, 2026

    Arrium Directors Say Claim They Ignored Troubles 'Nonsense'

    Directors of collapsed steelmaker and miner Arrium Ltd hit back on Wednesday at shareholder allegations they wrongly ignored negative industry data that should have underpinned their financial modelling, telling a Victorian Supreme Court judge that the company's disputed financial reports were reasonable and well-supported by available information.

  • August 05, 2026

    Federal Court Axes Class QBE COVID Appeal On Limited Use

    The Full Court of the Federal Court of Australia has tossed out a class action appeal against QBE Insurance and underwriter Lloyds over COVID-19 business losses for reasons of practical utility, ordering applicants to pursue claims independently or not at all.

  • August 05, 2026

    Brambles Loses Bid To Pause Costs Order In Class Action

    Brambles will have to pay an estimated $12 million in costs after a Federal Court judge dismissed a bid to pause a lump-sum assessment of costs owed to shareholders, despite the logistics giant appealing the landmark class action, in a judgment published on Monday.

  • August 05, 2026

    'Alarm Bells' Rang Before PAC Merger, Court Told

    The former directors of Pacific Current Group Ltd (PAC) approved the $193 million merger with fellow asset management firm Northern Lights Capital Partners LLC despite "alarm bells" ringing among the board over asset valuations of the U.S.-based firm, counsel for PAC told the Full Court of the Federal Court of Australia in Melbourne on Tuesday. 

  • August 04, 2026

    Arrium Class Say KPMG Failed On 'Professional Skepticism'

    KPMG auditors failed to properly look into contradictory information and unrealistic projections from Arrium Ltd before signing off on audits of the steelmaking and mining company ahead of its 2016 collapse, shareholders of the company argued at the Victorian Supreme Court on Tuesday.

  • August 03, 2026

    Directors Hid Arrium's Decline Before Collapse, Says Class

    Directors of collapsed steelmaker and miner Arrium Ltd wrongly approved "overly optimistic" revenue models underpinning the company's financial reports, ignoring predictions of a sustained fall in iron ore prices and an inability to turn a profit from an aging steel plant, shareholders of the company told a Victorian Supreme Court judge on Monday.

  • August 03, 2026

    Nuix Results 'Horrible' Prior To IPO, Class Action Case Hears

    The Supreme Court of Victoria has heard software company Nuix knew results were "horrible" in the lead up to its 2020 IPO, in the first day of a class action trial brought by shareholders alleging misconduct in the float after the share price fell on the back of downgraded revenue estimates.

Expert Analysis

  • Practice Leader Insights From Phi Finney's Joel Phibbs

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    Joel Phibbs, Phi Finney's anti-money laundering and counter-terrorist financing practice lead, discusses the approach of banks when dealing with compliance, the challenges of delays in getting cases to trial, and why financial bodies' regulatory burden and the desire to lower costs using artificial intelligence seem like a recipe for major problems in the future.

  • Practice Leader Insights From HSF Kramer's Andrew Bradley

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    Andrew Bradley, leader of HSF Kramer's financial services regulatory practice in Australia, discusses managing mental health while working on a complex matter, the glaring need for further reform in the financial advice sector, and why this practice area may be the most dynamic and intellectually stimulating.

  • Blue Star Shows Why Liquidators Need Approval Rule Reform

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    The recent Queensland Supreme Court decision in Blue Star Care v. Rimcroft highlights the uncertainty surrounding Section 477(2B) of the Corporations Act court approvals regime, meaning that until outright reform is implemented liquidators must make unsatisfactory choices between what is safe and what is in creditors’ best interests, says Robert True at Quinn Emanuel.

  • Australia's Computer Patent Ruling Will Aid Global Companies

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    While courts around the world have struggled to articulate a technology-neutral test for patentability of computer-implemented inventions, a recent decision by Australia's top court offers a decisive answer, creating strategic opportunities for overseas applicants, say attorneys at Mallesons.

  • Decoding Arbitral Disputes: ICSID Enforcement In Australia

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    The Federal Court of Australia recently ruled for award creditors in Blasket Renewable Investments v. Spain in a judgment that explains how Australia's statute book operationalizes the promise of depoliticized enforcement under the International Centre for Settlement of Investment Disputes Convention while accommodating, without yielding to, the centrifugal forces of European Union law, says Josep Galvez at 4-5 Gray's Inn.