We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Aussie Regulator Sues KPMG Over Collapse

Law360 (October 13, 2008, 12:00 AM EDT) -- The Australian Securities and Investment Commission has sued accounting firm KPMG LLP in an attempt to recover $200 million for shareholders who lost money in the 2006 collapse of Westpoint Group.

ASIC said Monday that the civil suit — which was filed in the Supreme Court of Victoria under a law that allows the regulator to sue for damages in the public interest — could benefit up to 80 percent of Westpoint Group’s investors.

“ASIC sees a clear public interest in using its powers in these...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.