In a Clear Victory for Institutional Investor, Court Finds U.S. Accounting Firm and its International Organization can be Held Liable for Audits Conducted by Foreign Affiliates
In a January 27, 2009 decision in In re Parmalat Securities Litigation, Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York addressed the issue of whether a U.S. accounting firm and the international organization of which it is a member can be held liable for securities violations committed by a member firm practicing in another country…
Download PDF