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A former partner of private equity firm Potentia Capital has filed a lawsuit alleging he was unlawfully denied $3.6 million in benefits from two funds as punishment for whistleblower disclosures.
Australian firms will continue to join forces with firms in the United States in a bid for higher partner profits and in response to client demand for a one-firm, multi-location service, an expert has predicted.
Super trustee Diversa has denied it is liable for $300 million in alleged investor losses after it made the First Guardian Master Fund available on its platform, pointing the finger at responsible entity Falcon Capital, its directors and ASX-listed promoter Praemium.
Google has hit back at a class action alleging it abused its dominance in the digital advertising market, saying that publishers are able to, and often do, develop their own ad tech tools or rely on competing third-party solutions.
A judge has approved a $550 million settlement in a class action over the Morrison government’s Robodebt scheme but has halved a funder’s payout to $35 million, despite arguments that it was unprecedented to award a single digit percentage commission.
The funder that backed a class action over the Morrison government’s Robodebt scheme, which settled for a record $548.5 million, is seeking a $71 million commission, but a contradictor has told the court a $23 million cut will suffice.
Logistics company Brambles has lost its bid to pause costs orders while it prepares an appeal of the first post-trial win for a shareholder class action, while also flagging a bid to stay determination of group member claims.
Under pressure from parliamentary committee members, KPMG said late Friday it would waive privilege and hand over investigation reports from Allens and Ashurst, after initially resisting orders for documents.
Facing the hotseat over KPMG's treatment of a whisteblower, the accounting giant's former CEO Andrew Yates told a parliamentary committee hearing on Friday he took accountability and was not a "bad apple".
A senator has criticised KPMG for claiming a commitment to transparency while also maintaining legal professional privilege over advice from Allens and Ashurst into the alleged misuse of confidential information.