A former PricewaterhouseCoopers client who is suing the accounting firm over the $88 million sale of wholesale food company Hudson Pacific to Retail Food Group in 2016 has agreed to keep a Melbourne property off the market, but the company has not ruled out a bid for security for costs.
The liquidators of failed engineering company Hastie Group have appealed a decision that knocked out half its $120 million case against Multiplex, Lendlease and numerous other builders.
GetSwift has been hit with a $15M penalty and several of its directors have been slapped with substantial penalties after the company was found to have misled shareholders in breach of the Corporations Act.
A judge has grilled the former general counsel of defunct logistics company GetSwift about why he did not confront the company’s directors for “bullying” other executives when they raised concerns about alleged continuous disclosure breaches.
ASIC has called for a $15 million penalty against GetSwift and 12-year bans against its directors, who moved the logistics company overseas as the regulator’s enforcement action was on foot, a move the court on Tuesday said was “unprecedented”.
Logistics company GetSwift and its directors have dropped their challenge to a judgment that found the company breached its continuous disclosure obligations with its “PR-driven” approach to ASX statements.
Logistics company GetSwift will argue on appeal that a judge who found the company took a “PR-driven approach” to ASX statements was wrong in his assessment of whether those statements contained material omissions.
Logistics company GetSwift and its directors are appealing a win for ASIC in the regulator’s case that alleged they breached their continuous disclosure obligations and engaged in misleading and deceptive conduct in the release of 22 ASX announcements.
A judge has dressed down ASIC over the handling of its action against GetSwift, criticising the regulator’s failure to seek a court injunction to prevent the company’s relocation to Canada.
Logistics company GetSwift says it is considering an appeal of an 859-page judgment which lambasted the company and its directors’ “public relations-driven approach” to announcements on the Australian Stock Exchange.