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A judge has approved a $41 million settlement in a shareholder class action against Pitcher Partners but has reduced the funder’s cut to $11.5 million after resolving a feud with the lead applicant over how much it should receive for taking the case to trial.
Following a three-week trial, Pitcher Partners has agreed to pay $41 million to settle a shareholder class action alleging the firm, along with Ernst & Young, 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 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.
Law firm Moray & Agnew has reached an agreement with insurer Arch Underwriting in its case seeking coverage of part of a $3.7 million settlement with Melbourne property developer Harry Stamoulis.
Ernst & Young has settled all claims against it in a shareholder class action alleging the Big Four accounting firm and Pitcher Partners signed off on an overly rosy year-end financial report that failed to disclose risks and impairments associated with the law firm's disastrous $1.2 billion acquisition of UK insurance claims company Quindell.
Lloyd's has won access to letters between Moray & Agnew and an insurer to test its claims that a $3.7 million settlement the law firm agreed to over the sale of apartments at a $105 million South Yarra complex developed by millionaire Harry Stamoulis was excessive and made to protect the firm's reputation.
A Lloyd's syndicate has hit back at a lawsuit by Moray & Agnew, saying it did not have to cover part of a $3.7 million settlement between the law firm and a Melbourne property developer because the amount agreed to was "excessive".
The Victoria Supreme Court will hold two passwords for Bitcoins in a secure location after a judge found that the loss of the passwords could lead to the destruction of $10.3 million worth of cryptocurrency at the heart of lawsuits involving the collapsed Blockchain Global Limited.
Former Slater & Gordon managing director Andrew Grech has told the Federal Court he regretted his "catastrophic error" in approving the $1.2 billion acquisition of Quindell's professional services division, which resulted in massive losses for the plaintiffs law firm.
Law firm Arnold Bloch Leibler will part with $28 million in its settlement with Slater & Gordon shareholders over advice ahead of the plaintiffs firm's disastrous $1.2 billion Quindell acquisition.