A judge has blessed Ernst & Young’s settlement with shareholders in a class action alleging the firm, along with Pitcher Partners, approved an overly rosy year-end financial report related to Slater & Gordon’s disastrous $1.2 billion acquisition of UK business Quindell.
A judge has rejected a bid by chain logistics company Brambles to allow two of its US-based witnesses to appear remotely at an upcoming trial in a shareholder class action, saying the executives should make the trip or give no evidence.
Ernst & Young has settled all claims against it in a shareholder class action alleging the Big Four accounting firm and Pitcher Partners signed off on an overly rosy year-end financial report that failed to disclose risks and impairments associated with the law firm’s disastrous $1.2 billion acquisition of UK insurance claims company Quindell.
The directors of mortgage aggregator Connective Services have been hit with indemnity costs for their “outrageous conduct” in pursuing litigation against a company shareholder, including giving false statements and destroying evidence.
Two directors of mortgage aggregator Connective engaged in oppressive conduct towards a minority shareholder and Macquarie Bank was a “knowing participant” when it acquired $5 million worth of shares in the company, the NSW Supreme Court has found.
An appeals court grilled counsel for the ACCC on the first day of a hearing challenging the dismissal of its case over a NSW government deal to privatise two ports, calling on the lawyer to spell out how the state was alleged to be in competition with the consortium that took over the ports.
AMP has expressed optimism that it will be able to reach a settlement with DST Bluedoor in a $35.5 million lawsuit accusing it of poaching 11 DST employees after licensing the software company’s online platform.
Former Slater & Gordon managing director Andrew Grech has told the Federal Court he regretted his “catastrophic error” in approving the $1.2 billion acquisition of Quindell’s professional services division, which resulted in massive losses for the plaintiffs law firm.
A former partner at accounting firm Pitcher Partners has told a court that he had issues working with Ernst & Young on an audit of law firm Slater & Gordon, calling the Big 4 firm “uncooperative”.
A former partner at accounting firm Pitcher Partners has testified during a shareholder class action trial that he should have questioned statements about the viability of Slater & Gordon’s $1.2 billion Quindell acquisition, but ran out of time because its audit of the firm went “off the rails”.