US EditionMelissa Caddick victims reach multimillion-dollar settlement
- Melissa Caddick's victims have settled for $3.5 million in a class action lawsuit that was described as Ǽjust, fair and efficientǽ by Mackay Chapman director Michael Chapman.
- Victims are expected to recover about 50% of their total losses of $23 million when combined with other returns, according to Michael Chapman.
- Federal Court Justice Brigitte Markovic approved the settlement, which was reached in 18 months without any admission of liability from the auditors.
- Victims have already recovered $7.25 million from liquidators, and they can expect an additional return of about 39 cents in the dollar from asset sales, according to Bruce Gleeson from Jones Partners.
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Melissa Caddick's auditors pay $3.5m to duped investors
Investors defrauded by Melissa Caddick before her disappearance and death will recoup a portion of their $23 million in losses after settling a class action lawsuit with her auditors.Victims have already been repaid $7.25 million after liquidators of the dead fraudster sold off her assets in 2023 and 2024.The 32 investors also launched a class action in September 2023 seeking damages from the five firms who audited Caddick's accounts between 201…
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