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Auditor BDO has asked the court to stay ASX-listed software company Dubber’s negligence suit over $26.6 million in alleged missing funds while a parallel case by ASIC over alleged false and misleading financial reports is on foot.
KPMG CEO Andrew Yates has stepped down over his handling of a senior executive's reports of misuse of confidential client information, as the firm hires Big Six firm Allens to investigate the whistleblower's claims.
Insurance Australia Limited has settled a $4 billion action brought by Germany's Greensill Bank and its administrator ahead of a six-month trial against the insurer and others over the failure of the trade financier.
Two investment firms have been hit with combined penalties of nearly $100,000 for failing to pay infringement notices issued by the financial crimes regulator.
Westpac has been hit with a $26 million penalty -- just shy of the $30 million sought by ASIC -- for failing to respond to online hardship applications on time on 277 occasions, in conduct described as “grossly negligent”.
A judge has rejected a bid by a shareholder class action against water treatment firm Phoslock and auditor KPMG to put off paying $1.6 million in overdue cash security while negotiations about an ATE policy are on foot.
The Commonwealth Bank has urged the High Court to uphold a ruling rejecting shareholders' damages claims in two class actions, saying the decision correctly rejected their "conflation of materiality with loss".
A judge has approved a $67 million settlement in a class action against QSuper but has trimmed the payout for the litigation funder, criticising it for a "brazen and unjustified" deduction that was dropped during the hearing.
The corporate regulator has filed proceedings alleging superannuation trustee Equity Trustees failed to act in members' best interests by allowing them to sink $65 million into Falcon Capital's First Guardian Master Fund.
Zip Co has reached an agreement to acquire the 'Zip' trade mark from non-bank lender Firstmac, after the High Court rejected its honest concurrent use defence last week.