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Results: 1-10 of 16

PCAOB imposes record fine on E&Y in public proceeding

  • Dorsey & Whitney LLP
  • -
  • USA
  • -
  • February 9 2012

E&Y was fined a record $2 million by the PCAOB in connection with repeated violations of professional standards

Fremont Reorganizing Corp.v. Faigin: court denies litigation privilege defense to former in-house counsel facing legal malpractice allegations

  • Sedgwick LLP
  • -
  • USA
  • -
  • October 18 2011

In Fremont Reorganizing Corporation v. Faigin, (2011) 198 Cal. App. 4th 1153, the Third Division of the Second Appellate District held in a published decision that the litigation privilege may not be used to protect an attorney from liability to a former client for the breach of professional duties

No E&O or D&O coverage for investigation by attorney general

  • Wiley Rein LLP
  • -
  • USA
  • -
  • July 26 2011

Applying California law, a federal district court has held that a social networking website could not recover under its professional liability policy for amounts incurred in connection with an investigation by the New York Attorney General (NYAG) because the matter did not involve professional services within the scope of the policy’s errors and omissions coverage and because the allegations triggered the professional services exclusion in the directors and officers liability (D&O) coverage section. Tagged, Inc

Jedi mind tricks in the Fourth Circuit

  • Nexsen Pruet
  • -
  • USA
  • -
  • June 20 2011

Remember Obi-Wan Kenobi waving his hand at some baddie in the first Star Wars movie saying, "There is no droid"?

Jury? I don't need no stinkin' jury

  • Day Pitney LLP
  • -
  • USA
  • -
  • May 31 2011

A former in-house lawyer for GlaxoSmithKline won a Rule 29 judgment of acquittal in her criminal trial

Ninth Circuit hints that unlicensed accountants may be exempt as learned professionals

  • Seyfarth Shaw LLP
  • -
  • USA
  • -
  • February 23 2011

On February 15, 2011, the Ninth Circuit held oral argument in Campbell v. PricewaterhouseCoopers, LLP, a significant class action that concerns the exempt status of unlicensed accounting professionals under California law

Unnamed class member could not bring separate suit for disgorgement of attorneys’ fees

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • November 19 2010

Nine months after the U.S. District Court for the Southern District of Texas approved a fee application in the In re Enron class action litigation, plaintiff Michael Brown, an unnamed member of the class, brought a new action in the same court, asserting claims of fraud and breach of fiduciary duty against Thomas Bilek and his law firm, seeking disgorgement of the $16 million in attorneys’ fees awarded Mr. Bilek for his work in the litigation

Trifurcation of trial results in reversal of gross negligence finding against accounting firm

  • Chadbourne & Parke LLP
  • -
  • USA
  • -
  • September 20 2010

In 2004, Banco Espirito Santo International and two of its affiliates (collectively, “Banco”) sued BDO Seidman, L.L.C. (“BDO”), an international accounting firm, claiming that BDO negligently audited one of its former clients, E.S. Bankest L.L.C. (“Bankest”), which had perpetrated a loan-fraud scheme against Banco

Thabault v. Chait: completing the Third Circuit's deepening insolvency trilogy

  • Jones Day
  • -
  • USA
  • -
  • March 6 2009

When the United States Court of Appeals for the Third Circuit decided Thabault v. Chait, 541 F.3d 512 (3d Cir. 2008), in September 2008, it was the most significant accounting malpractice decision of last year and perhaps the most significant damages case in the last 20 years

Responding to the handwriting on the wall

  • Vedder Price PC
  • -
  • USA
  • -
  • November 1 2008

The handwriting on the wall is clear: the days of a growing economy have come to an end (at least for the foreseeable future), and this nation is likely to experience a period of economic hardship

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