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.
Virgin Airlines has argued a litigation funder’s indemnity for its legal costs is not enough for it to bring a class action on behalf of bond holders over a 2019 prospectus, claiming the airline expects to spend more than $5 million defending the proceedings.
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 allowed four ex-Linchpin directors facing possible fines by ASIC to put off filing evidence or amended defences in an investor class action after they claimed it would put them at risk of penalty in the corporate regulator’s proceedings.
A judge has given a “judicial harrumph” to Sydney developer FKP Commercial Developments and Irish insurer Zurich Insurance in a dispute over coverage for an apartment defects suit, saying it was not for the court to “trawl” through an insurance policy to work out its meaning.
A client of Corrs Chambers Westgarth has filed an appeal after a judge found the firm went “far beyond the permissible scope” of involvement in an expert report prepared for a trade secrets case.
In the wake of a landmark judgment that held class actions are not managed investment schemes, engineering giant UGL has given up its case against two unions that sought to block them from funding an underpayments class action.
Deloitte has won its bid to keep confidential documents away from the funder backing a consolidated shareholder class against food company Noumi which alleges the auditor was complicit in misleading the market.
A judge has granted a bid by the operator of Sydney’s billion-dollar Lane Cove tunnel to add a new claim in the five-year-old dispute alleging the concrete lining used in construction was defective.