Accounting firm Pitcher Partners, which is facing two shareholder class actions over auditing work for Slater & Gordon, is considering filing claims of its own against the law firm’s current auditor, Ernst & Young.
Singapore-based cable manufacturer Midland Metals has lost its appeal of a judgment that found the Australian Cablemakers Association did not violate the consumer laws when it sent letters to several Ministers complaining that an electrical cable supplied by Midland was unsafe.
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.
Insurance Australia Limited is facing a class action alleging it engaged in misleading and deceptive conduct by pushing worthless add-on insurance onto individuals purchasing motor vehicles through authorised dealers.
A judge has rejected a bid by former directors of Slater & Gordon to throw out cross claims brought by Pitcher Partners in two shareholder class actions alleging the accounting firm wrongly signed off on the law firm’s financial reports ahead of a share price nosedive, saying it was possible Pitcher Partners’ claimed reliance on representations by the directors was reasonable.
A judge has agreed to postpone a trial against logistics provider GetSwift until next year when a class action and a lawsuit by the Australian Securities and Investments Commission related to the company’s disclosures will be heard consecutively rather than concurrently.
GetSwift shareholders Clutterbuck Capital Management and KPT Capital have opted out of a class action against the logistics services provider, blasting the “inappropriate and questionable” actions by some involved in the class action proceedings.
The Australian Securities and Investments Commission wants to add GetSwift’s former inhouse lawyer as a respondent in its enforcement action against the logistics company, as debate rages over whether a class action against the company should be postponed.
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.
The trial in the ACCC’s case against hospital group Ramsay Health Care has doubled in length after the regulator made a late bid to enter as evidence a file note based on a sound recording of a meeting in which a Ramsay unit’s CEO allegedly made anti-competitive threats.