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Tenth Circuit affirms high standard for scienter pleading in securities fraud cases against independent auditors

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • February 2 2011

In Dronsejko v Grant Thornton, Nos 09-4222 and 10-4074, US App LEXIS 1052 (10th Cir. Jan. 20, 2011), the United States Court of Appeals for the Tenth Circuit affirmed a decision by the United States District Court for the District of Utah dismissing a securities fraud class action brought by investors in iMergent against its independent auditor, Grant Thornton