Dropping a class action against accounting firm Pitcher Partners over Slater & Gordon’s disastrous acquisition of UK professional services firm Quindell will leave group members no worse off than they were when the proceeding first commenced, the Federal Court has heard.
A judge has found that auditor Ernst & Young cannot rely on the privilege against self-incrimination in a lawsuit brought over its audits of failed financial services firm LM Investment Management.
Professional services firm EY UK has been added as a respondent in a shareholder class action against Pitcher Partners over advice given to law firm Slater and Gordon in its disastrous $1.3 billion acquisition of the UK-based Quindell in 2015, almost two years after the class action was filed.
Deloitte Touche Tohmatsu has asked a court to toss a majority of claims in a lawsuit brought by 63-year-old partner Colin Brown over the firm’s alleged discriminatory retirement policy that he claims has cost him almost $4 million.
Irate bondholders of Axsesstoday Limited, which collapsed in 2019 after breaching its loan term conditions, have filed a class action against the asset finance lender and its accountant PwC seeking to recoup their losses.
A 63-year-old partner of Deloitte Touche Tohmatsu is suing the accounting giant and CEO Richard Deutsch alleging the firm’s mandatory retirement policy is discriminatory and has cost him almost $4 million.
Two shareholder class actions against failed electronics retailer Dick Smith will head to trial in March, after a failed attempt to resolve the long-running dispute in mediation.
Shareholders of collapsed music streaming platform Guvera have filed a class action against an accounting firm seeking to recoup their losses for the firm’s alleged negligence in promoting an investment opportunity in the failed tech company.
Certain claims in a shareholder class action against insolvent training company Vocation and auditor PricewaterhouseCoopers have been dropped, as the long-running case awaits a new trial date pending the outcome of a separate Full Court appeal.
Two units of global insurer Lloyd’s have launched a constitutional challenge to a Federal Court order requiring accounting firm Pitcher Partners to hand over certain insurance documents in two shareholder class actions.