The judge considering the $50 million settlement reached in the shareholder class action against failed training company Vocation and auditor PricewaterhouseCoopers has signalled his likely approval of the deal, but wants a senior lawyer to tell the court why the funding commission is reasonable.
PricewaterhouseCoopers is looking to shut down a class action by irate bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.
Bondholders of Axsesstoday are seeking to expand their claims in a class action against the collapsed asset finance lender and its accountant PricewaterhouseCoopers, alleging PwC kept investors in the dark about a spike in the company’s arrears ratio prior to issuing a $50 million bond prospectus.
Assurances that PwC can be a defendant in a privilege fight with the ATO while representing three other defendants in the proceedings and avoid a conflict of interest has failed to allay concerns raised by a Federal Court judge, who said the situation created “at least an appearance of tension”.
Shareholders of collapsed vocational training company Vocation are poised to get about half of a $50 million settlement reached last month in a complex, long-running class action alleging the company failed to make adequate disclosures about its contracts with the Victorian Department of Education.
A court battle between the Australian Taxation Office and PricewaterhouseCoopers over the scope of legal professional privilege claimed by one of its major clients, meat processing giant JBS Australia, has hit a preliminary snag over the consulting giant’s representation of JBS, with a judge warning he might compel the company and its subsidiaries to engage independent lawyers.
PricewaterhouseCoopers won’t get a chance to seek summary dismissal of a lawsuit brought by a former company director who claims her notice of termination through DocuSign was invalid and that she was denied entitlements, with a judge saying the former employee had a claim and that the parties needed to “just get on with it”.
A $50 million settlement has been reached in a long-running shareholder class action against defunct vocational training company Vocation that also spawned multiple cross-claims against the failed company’s auditor PricewaterhouseCoopers, law firm Johnson Winter & Slattery and individual directors.
PricewaterhouseCoopers is seeking to strike out a lawsuit brought by a former director who claims her notice of termination was invalid because it was delivered through DocuSign.
A PwC director who was terminated after suffering a back injury at work has sued the accounting giant claiming that her notice of termination was invalid because it was delivered through DocuSign.