Correct there are multiple CA lawsuits against PP. An Auditors...

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jimk3758

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14/09/18

21:25

Post #: 35615108
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Originally posted by Fishinnick ↑

With the PP claim or CA is there more than one against them? I think you're saying theres multiple?

Have they actually put in a claim yet and if so have you got a copy, i'd like to read what they say PP did wrong/dodgy or makes them liable as i'm still scratching my head about the CA, it seems more like a witch hunt to me and my limited legal knowledge, i just go on what i think is fair and logical.

I look at it like this..... The Auditors signed off (PP i believe) on the year that SGH did its topical acquistion, borrowed funds from the Banks etc, sold its plan to market (CR) and developed its forward forcasting from its industry experience, data room and most rigorous DD. Then PP comes along to sign off on the books. What or whose numbers do you think PP has to use to verify the books? Are they required to redo (start from scratch) the internal SGH valuations, DD and forward forcasting that SGH, 70 lawyers and other third parties have already done or are they legally allowed to accept these assumptions within guidelines and limits? The only way to check out all that well-paid for DD would have been to go and audit Qpp wouldn't it?, which i very much doubt would be a PP requirement or responsibility.
Thus my $50 bet, i prefer US$ too thanks.

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Correct there are multiple CA lawsuits against PP. An Auditors job is not to just accept the books but to scrutinize them and find holes and ask questions until they are satisfied everything is above board and correct. PP had that single purpose and stuffed it up royally. You'll be paying me Fish and AUD is fine.

Last edited by jimk3758: 14/09/18

SGH Price at posting: $3.05 Sentiment: Sell Disclosure: Not Held
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Correct there are multiple CA lawsuits against PP. An Auditors...

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