Fuji Xerox and Ernst & Young have settled a lawsuit over $450 million in alleged accounting irregularities that also ensnared an EY partner and two senior Fuji executives.
Grant Thornton and former director Bradley Taylor appeared in court Thursday, facing charges of failing to ensure the 2018 audit of fintech firm iSignthis was conducted in accordance with auditing standards.
A judge has barred a retired Moore Stephens partner from bringing all but a single claim against a former colleague who allegedly failed to account to the partnership for unauthorised profit in excess of $11 million.
A judge has granted the liquidators of Cornerstone Investment Australia leave to sign a funding agreement for the insolvent tertiary education provider’s $56 million professional negligence claim against accounting firm PricewaterhouseCoopers.
The former owner of fitness franchise Zap Fitness has sued accounting firm Pitcher Partners, claiming it failed to properly advise on a troubled share buy-back scheme that spawned litigation the company paid $4.25 million to settle.
Shareholders in a class action against Arrium and KPMG are fighting an $8 million security for costs order sought by former directors of the failed steel giant, who say they should not be forced to defend the case “on a shoestring.”
Two former executives at Fuji Xerox’s Australian unit have settled a lawsuit over their roles in a $450 million accounting scandal that has also ensnared auditor Ernst & Young.
A shareholder class action against Ernst & Young over its alleged inflation of assets owned by sandalwood producer Quintis has argued the accounting firm should be allowed only one expert witness, who should collaborate with a competing expert chosen by the investors.
A judge has denied a bid by accounting firm Pitcher Partners to transfer a $127 million lawsuit brought by the Twigg family, saying he was best placed to hear “serious allegations” the firm helped race car driver Max Twigg give a false understanding of his company’s assets.
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.