A judge has questioned whether he should approve the $3 million legal bill in the settled Discovery Metals shareholder class action against KPMG, amid concerns the plaintiff’s lawyers, Piper Alderman, breached legal profession regulations by failing to update their estimated costs.
A judge has signed off on the confidential settlement of a shareholder class action brought against KPMG relating to the failed $830 million hostile takeover of mining firm Discovery Metals, despite objections that the settlement process was āunfair and unjustā.
Litigation funder Litigation Capital Management will snap up 30 percent of a confidential settlement amount that KPMG has fought to keep under wraps in a shareholder class action over a failed $830 million hostile takeover bid of mining firm Discovery Metals.
A settlement has been reached in a class action against KPMG alleging it providing a misleading expert report to copper miner Discovery Metals that was used to reject a $830 million hostile takeover bid.
A judge has denied law firm Piper Alderman’s request to replace an uncooperative expert witness in a class action against KPMG over a failed takeover offer, three weeks before the matter goes to trial.
The Australian Securities and Investments Commission has called for the big accounting firms to focus on “culture and talent” after a new report found one in five audits had no reasonable basis for clearing company financial reports of material misstatements.
Creditors of the failed Arrium Group have won access to documents handed over by third parties to the company’s administrators for possible civil proceedings against the steel producer, which collapsed owing $2.3 billion.
Commonwealth Bank of Australia has admitted a breach of data affecting nearly 20 million accounts, but said Thursday there was no evidence that customers’ details were stolen.