Another auditor has landed in hot water over collapsed video company Big Un’s 2017 independent audit, with the lead accountant charged with making a false or misleading statement.
King & Wood Mallesons could be dragged into a class action by commercial fishing operators against Gladstone Ports Corporation over a “colossal disclosure debacle” in which the late discovery of 39,000 documents derailed a planned September hearing.
A judge has approved a $155,000 settlement in a class action on behalf of investors in failed streaming platform Guvera which racked up $500,000 in legal fees, saying the case should never have been filed as a class action and didn’t advance group members’ interests “one iota”.
A judge has signed off on a $20 million penalty against Westpac subsidiary BT Funds Management for improperly charging 9,000 members insurance premiums that included commissions to financial advisers, a practice that was banned in 2013.
Coal mining firm TerraCom has taken its bid to shield a PricewaterhouseCoopers report from ASIC to the Full Court, appealing a judgment which found the regulator could view the report because of public statements made by the company.
Telstra has denied that it is liable to compensate a Queensland barrister who lost his phone numbers in an NBN transfer, arguing that it was the silk’s decision to terminate his contract with the company.
Toyota could owe close to $2 billion in compensation to 260,000 car owners after a judge found that diesel filters installed in its Hilux, Fortuner and Prado models were defective and that the cars were sold for more than they were worth.
The trustee of Mayfair Group’s collapsed IPO Wealth Fund has reached an in-principle settlement in a class action alleging it misled investors, who lost $86 million when the fund was wound up.
A judge has hit Westpac with a $1.5 million penalty for misleading 141 customers into believing they had purchased add-on insurance.
The High Court has rejected a special leave application by consumer goods giant Reckitt-Benckiser in its long-running battle with the maker of painkiller Maxigesic.