A former partner at accounting firm Pitcher Partners has testified during a shareholder class action trial that he should have questioned statements about the viability of Slater & Gordon’s $1.2 billion Quindell acquisition, but ran out of time because its audit of the firm went “off the rails”.
A former JPMorgan managing director has said the three investment banks at the centre of an alleged cartel made individual decisions to trade “gently” in ANZ shares but were conscious of their fellow underwriters’ risks following a botched share placement in 2015.
The lead applicant in a shareholder class action over Slater & Gordon’s disastrous $1.2 billion Quindell acquisition has said he might have “dumped” his stock before the firm experienced massive losses in 2016 if not for Pitcher Partners and Ernst & Young’s allegedly faulty advice.
The legal market has experienced unprecedented growth during the last year despite the coronavirus pandemic, but law firms are “battling” to retain and hire lawyers, a CBA report has found.
Accounting firm Pitcher Partners was “solely responsible” for giving allegedly negligent advice about Slater & Gordon’s disastrous $1.2 billion Quindell acquisition ahead of the law firm’s massive losses in 2016, Ernst & Young has argued at trial in a long-running class action by the firm’s shareholders.
The Australian Securities and Investments Commission has hit beleaguered mining firm Griffin Coal with criminal charges over its alleged failure to lodge annual financial reports for 2019 and 2020.
Accounting firms Pitcher Partners and Ernst & Young have blamed the lawyers who advised on Slater & Gordon’s disastrous $1.2 Quindell acquisition for the its massive losses in 2016, saying they failed to point out the “commercial misjudgment” of agreeing to the deal.
Accounting firms EY and Pitcher Partners ignored “front page news” that Slater & Gordon’s acquired business Quindell was scrutinised by a UK regulator after reporting a $250 million (£137 million) loss, a court heard on the second day of trial in a class action by the law firm’s shareholders.
Accounting firm Pitcher Partners gave faulty advice ahead of Slater & Gordon’s disastrous $1.2 billion Quindell acquisition that was responsible for $800 million in the business’ value “disappearing” within six months, a court heard on the first day of trial in a long-running class action by the law firm’s shareholders.
The Northern Territory’s agreement to pay $35 million to settle a class action on behalf of 1,200 young people who allegedly suffered human rights abuses while in detention was a “discount” on the claimed value of compensation owed, a court has heard.