The Sixth Circuit addressed the liability of an outside auditor named as a primary violator in a securities fraud action in Louisiana School Employees’ Retirement System v. Ernst & Young, LLP, No. 08-6194 (6th Cir. Decided Sept. 22, 2010). There, …

PLEADING SCIENTER AGAINST AN OUTSIDE AUDITOR Read More »

Two cases in recent months have peered into the SEC’s normally opaque charging and settlement processes and raised disturbing questions. Bank of America, resolved earlier this year took repeated hearings to secure approval of the SEC’s settlement with the Bank. …

COURT APPROVES SEC SETTLEMENT IN CITGROUP – BUT QUESTIONS REMAIN Read More »