Former Dick Smith executives Nick Abboud and Michael Potts have pointed the finger at the defunct electronics retailer’s other directors in response to cross claims by auditor Deloitte, which is named in two shareholder class actions over the company’s collapse.
Two former executives of Dick Smith may seek to vacate an upcoming trial date for two class actions against the failed retailer, after recently being hit with cross claims by the company’s former auditor, Deloitte.
Allianz and a number of other insurers of Dick Smith are now facing a class action over the extent of coverage under an insurance policy for the collapsed electronics retailer’s initial public offering.
Lawyers for Deloitte were questioned by an appeals court Monday after arguing that the accounting giant’s partners had no access to the firm’s files, stored in a locked “litigation room”, and no power to hand them over to comply with discovery orders in a shareholder class action over the collapse of client Hastie Group.
Accounting giant Deloitte has failed in its bid to strike out claims made in two shareholder class actions alleging it was careless in auditing the financial statements of electronics retailer Dick Smith ahead of its collapse in 2016.
Deloitte Touche Tohmatsu is facing claims by the lead applicants in two class actions against failed retail giant Dick Smith alleging its poor accounting practices contributed to the retailer’s collapse.
Clifford Chance has been targeted by a phishing scam in which fraudsters sent emails purportedly from the global law firm to mislead clients into paying fraudulent bills, and at least one client was duped into paying a substantial amount of phony fees.
Deloitte is challenging a judge’s ruling that certain partners not be excused from an order to produce files of the accounting giant’s audit work for Hastie Group to shareholders in a class action over the construction company’s collapse, its latest move after a failed attempt to persuade the judge that a rogue partner had taken the only copies of the files and refused to give them back.
From a record-setting funder’s cut to the first call for ‘“proportionality”, last year saw a number of groundbreaking judgments approving class action settlements worth more than half a billion dollars. Here are the 10 biggest settlements of 2018, and the law firms and funders that negotiated them.
The Australian Securities and Investments Commission has promised it will stay away from the depositions of two former Rio Tinto executives in proceedings underway in the US, as it pursues a parallel case over allegedly misleading market statements the mining company made about the reserves of a $4 billion coal acquisition.