Deloitte and Noumi, formerly known as Freedom Foods, have pointed the finger at one another in a consolidated shareholder class action, with the accounting giant saying the food company made misleading representations in its financial reports and should be on the hook for its costs in defending the lawsuit.
A former Deloitte director accused of embezzling $3.1 million has agreed to court orders that he repay the money and hand over title to all assets — including almost 100 works of art — purchased with the alleged misappropriated funds.
Deloitte has secured a freezing order on the assets and bank accounts of a director accused of stealing funds from the consulting giant, in what a judge has described as an alleged “remarkable fraud”.
Another fight over privilege may be on the cards in a shareholder class action over the collapse of the Hastie Group, with Deloitte flagging its partners may claim privilege over certain parts of the accounting giant’s evidence.
Australian Mercedes-Benz dealers behind a $650 million lawsuit over the car maker’s decision to move to a fixed-price agency model allege the car maker engaged Deloitte as a consultant so it could “spin” its real reasons for making the change.
National Australia Bank and HSBC should be “jointly and severally liable” to pay a portion of the costs of a failed case brought by Dick Smith’s receivers against the company’s former directors because the banks stood to gain financially if the lawsuit was successful, the NSW Supreme Court has heard.
Accounting giant Deloitte has lost its bid to throw out a former client’s lawsuit alleging negligence and fraud over a failed interposition under tax law that occurred more than 16 years ago.
Dick Smith’s former CFO will appeal a $43 million judgment in favour of National Australia Bank over his role in the retailer’s collapse.
A judge has rejected an application by the plaintiffs in two class actions against Freedom Foods and Deloitte to run their cases side-by-side, but said she would have granted a bid to consolidate the proceedings had that been sought.
Recent changes to the law requiring funded class actions to be registered as managed investment schemes have complicated the question of how best to resolve the multiplicity issue in two class actions brought against Freedom Foods and Deloitte.