Wednesday, December 22, 2010

People of the State of New York v. Ernst & Young LLP

Here is the civil complaint filed in New York v. Ernst & Young LLP. The pleading is a well drafted speaking complaint detailing Ernst & Young LLP's auditing actions, and alleged failures to act, in connection with Lehman's Repo 105 transactions. New York is seeking the return of $150 million in auditing fees earned by Ernst & Young on the Lehman account. Assuming that the allegations are true, the complaint is a powerful argument in favor of Dodd-Frank's enhanced whistleblower provisions. Most of the alleged activities occurred after Sarbanes-Oxley was enacted into law. 


Civil Enforcement, Civil Litigation, Current Affairs, Fraud, Investigations | Permalink

TrackBack URL for this entry:

Listed below are links to weblogs that reference People of the State of New York v. Ernst & Young LLP:


Post a comment