Brief: Pioneer Credit Announces Commencement Of Proceedings Against PwC

Pioneer Credit

31/10/2023 01:04

Oct 31 (Reuters) - Pioneer Credit Ltd  PNC.AX :
    * COMMENCEMENT OF PROCEEDINGS AGAINST PWC
    * COMMENCED LEGAL PROCEEDINGS IN SUPREME COURT OF WESTERN
AUSTRALIA AGAINST PRICEWATERHOUSECOOPERS
    * LEGAL PROCEEDINGS AGAINST PWC FOR NEGLIGENCE, BREACH OF
RETAINER, AND MISLEADING OR DECEPTIVE CONDUCT
    * CLAIMS PWC'S CONDUCT CAUSED PIONEER TO SUFFER LOSS AND
DAMAGE
CURRENTLY ASSESSED BY PIONEER TO BE APPROXIMATELY A$27 MILLION
    * PROCEEDING IN ESSENCE ALLEGES THAT PWC HAS FAILED COMPANY
AND
ITS SHAREHOLDERS
    * PIONEER CLAIMS PWC'S CONDUCT HAS INSTEAD HAD A SIGNIFICANT
COST
IMPACT ON COMPANY, BOTH TO ITS BOTTOM LINE AND REPUTATIONALLY
    * CLAIMS THAT PWC'S CONDUCT CAUSED PIONEER TO SUFFER LOSS
AND
DAMAGE CURRENTLY ASSESSED BY PIONEER TO BE APPROXIMATELY A$27
MILLION

Source text for Eikon:  ID:nASX27gM49 
Further company coverage:  PNC.AX 

 ((Reuters.Briefs@thomsonreuters.com;))