Litigation
Jun. 13, 2012
U.S. judge dismisses fraud claims against banks auditor
U.S. District Judge Cormac Carney said plaintiffs didn't sufficiently show Deloitte & Touche LLP knowingly erred in its audit.
Daily Journal Staff Writer
LOS ANGELES - A federal judge has dismissed fraud claims against a failed bank's outside auditing company, Deloitte & Touche LLP, declaring that plaintiffs didn't sufficiently show the firm had knowingly erred in its audit of the bank.
"When alleging securities fraud against an outside auditor, a plaintiff's burden to show scienter is quite high" U.S. District Judge Cormac J. Ca...
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