Accounting firm Pitcher Partners gave faulty advice ahead of Slater & Gordon’s disastrous $1.2 billion Quindell acquisition that was responsible for $800 million in the business’ value “disappearing” within six months, a court heard on the first day of trial in a long-running class action by the law firm’s shareholders.
A judge has given the green light to amended pleadings in a class action accusing major banks of entering a cartel agreement to rig foreign exchange rates, bringing a two-year fight over the pleadings closer to resolution.
Two class actions against Pitcher Partners and Arnold Bloch Leibler over advice given ahead of Slater & Gordon’s disastrous $1.2 billion Quindell acquisition will proceed to trial next month after mediation between the parties failed to resolve the cases.
A judge has refused a bid by accounting firms Pitcher Partners and EY to access share trading data of unregistered group members in a securities class action over advice to Slater & Gordon, despite claims upcoming mediation will be “pointless” without the information.
The Full Federal Court has found that Liberty Mutual Insurance, but not QBE, is required to cover Icon Construction’s losses stemming from the Opal Tower disaster, which has caused the builder $31 million in losses.
Two Melbourne-based aged care providers want negligence claims that are unrelated to COVID-19 removed from class actions over their handling of the pandemic, in a move that may exclude a “very large number” of group members from the proceedings.
A law firm is set to file a class action against Mitsubishi Motors after a judge upheld a ruling that found the car maker engaged in misleading or deceptive conduct in its representations of fuel efficiency on a label fixed to the windshield of a Triton 4WD sold in 2017.
A judge has ordered ASIC to flesh out its case accusing the Retail Employees Superannuation of misleading members about their ability to move their super out of the REST Trust, given the “significant” allegations that a deliberate system was behind the superannuation trustee’s alleged misconduct.
The judge overseeing two class actions over legal and accounting advice given ahead of Slater & Gordon’s disastrous Quindell acquisition has said he will hear the cases together, citing the “dangers” of the approach taken in litigation against GetSwift, which resulted in a judge being ordered to step down.
Construction firm Icon Co has won a coverage dispute with its insurers over $31 million in losses stemming from Sydney’s ill-fated Opal Tower, whose residents were evacuated after cracks appeared in the tower’s walls on Christmas Eve in 2018.