Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Saturday, June 16, 2007

Accounting Firm Liable for Failing to Detect Fraud

A Florida jury has found accounting firm BDO Seidman liable for gross negligence in failing to detect a fraud at E.S. Bankest LLC, a Miami financial services firm.  The accounting firm is potentially liable for investors' losses of $170 million and punitive damages.  See WSJ, BDO Is Found Guilty Of Negligence in Fraud.

http://lawprofessors.typepad.com/securities/2007/06/accounting_firm.html

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