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A class action against KPMG over the failure of six managed investment schemes for eucalyptus wood in Tasmania can't add new claims against the accounting firm three months out from trial.
Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company's business interests and line its directors' pockets.
Following a three-week trial, Pitcher Partners has agreed to pay $41 million to settle a shareholder class action alleging the firm, along with Ernst & Young, approved an overly rosy year-end financial report related to Slater & Gordon's disastrous $1.2 billion acquisition of UK business Quindell.
Defunct stockbroker Halifax Investment Services has sued law firm King & Wood Mallesons and its former auditor Bentleys for allegedly failing to advise that it had to hold client funds used to trade on its online platforms on trust.
Grant Thornton and former director Bradley Taylor appeared in court Thursday, facing charges of failing to ensure the 2018 audit of fintech firm iSignthis was conducted in accordance with auditing standards.
Fuji Xerox and Ernst & Young have settled a lawsuit over $450 million in alleged accounting irregularities that also ensnared an EY partner and two senior Fuji executives.
A judge has barred a retired Moore Stephens partner from bringing all but a single claim against a former colleague who allegedly failed to account to the partnership for unauthorised profit in excess of $11 million.
A judge has granted the liquidators of Cornerstone Investment Australia leave to sign a funding agreement for the insolvent tertiary education provider’s $56 million professional negligence claim against accounting firm PricewaterhouseCoopers.
The former owner of fitness franchise Zap Fitness has sued accounting firm Pitcher Partners, claiming it failed to properly advise on a troubled share buy-back scheme that spawned litigation the company paid $4.25 million to settle.
Shareholders in a class action against Arrium and KPMG are fighting an $8 million security for costs order sought by former directors of the failed steel giant, who say they should not be forced to defend the case “on a shoestring.”