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.
Victoria’s Emergency Services Telecommunications Authority may be hit with a class action over alleged systemic failures in its ambulance call handling operations that may have led to at least 15 deaths.
A shareholder class action against Treasury Wine Estates has won access to information said to prove there were reduced wine sales in the United States, with a judge finding the wine producer’s redactions of board papers were “not justified”.
A judge deciding one of the first ever applications by a law firm for a percentage cut of a class action will have to determine whether Victoria’s ground-breaking contingency fee legislation allows a group costs order to operate with a sliding percentage return.
a2 Milk is facing a shareholder class action in New Zealand on behalf of investors who allegedly suffered loss when the company’s share price plummeted on the heels of a revised outlook for the 2021 financial year amid challenges in the Chinese market.
A judge overseeing a beauty parade of two class actions against Beach Energy will hear competing bids for contingency fees by the plaintiffs’ firms before choosing which of them will have carriage of the case.
Law firms running competing shareholder class actions against a2 Milk appear to have reached agreement to join forces, with a court order Thursday scrapping a contest to determine which case would proceed alone.
Deloitte and Noumi, formerly known as Freedom Foods, have pointed the finger at one another in a consolidated shareholder class action, with the accounting giant saying the food company made misleading representations in its financial reports and should be on the hook for its costs in defending the lawsuit.
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.