Dubber rallies after suing auditors BDO
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More news: Dubber shares climbed after the software firm commenced Federal Court proceedings against BDO Audit, linking its former auditors to $26.6 million in company funds that went missing last year.
Dubber shares were up 14.7% to 2 cents at 2:30pm AEST.
Dubber sues auditors BDO over $26m in missing company funds
The news: Call recording software firm Dubber has issued proceedings in the Federal Court against former auditors BDO Audit in a claim of around $26.6 million, the same amount of company funds that went missing last year.
The numbers: Dubber said the proceeding relates to the audits conducted in fiscal 2020, 2021 and 2022, and the misappropriation of company funds during that period.
The context: Dubber claims BDO Audit was "negligent in its audit performance" and that it engaged in "misleading and deceptive conduct".
BDO Audit's lawyers have denied any liability.
In April last year, Dubber fired its CEO and managing director Steve McGovern, alleging that both McGovern and a third party trustee were likely involved in the unauthorised use of the missing company funds. In October, the company launched a $25 million equity raising, in part to support recovery efforts from the incident.
The source: ASX
