A federal judge dismissed Ernst & Young from a shareholder case against failed mortgage lender IndyMac Bancorp Inc. about two weeks after a different judge dismissed a substantial portion of a related Securities and Exchange Commission case against the bank’s former chief executive officer.
U.S. District Judge George Wu in Los Angeles concluded Wednesday that Ernest & Young, IndyMac’s auditor during the 2006 and 2007 fiscal years, had not engaged in securities fraud based on the facts in the case.
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