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Auditing firm Grant Thornton has partially settled claims that it covered up securities fraud by failed telecom Winstar Communications. According to a stipulation filed Thursday, Grant Thornton reached a confidential settlement with 22 institutional investors in Winstar, but still faces class claims by all Winstar investors.
Attorney Ineligibility Order Pursuant to Rule 1:28-2(a)
Notice to the bar.Fraud claims against Grant Thornton reinstated
The U.S. Court of Appeals for the Second Circuit ruled that genuine issues of material fact exist as to whether the accounting firm made false and misleading statements in an audit opinion letter.Circuit Reinstates Fraud Claims Against Grant Thornton
Saying that genuine issues of material fact exist as to whether the accounting firm made false and misleading statements in an audit opinion letter, the circuit reversed a grant of summary judgment.California State Teachers' Retirement System v. Qwest et al.
California State Teachers' Retirement System v. Qwest et al.
Plaintiffs with fraud claims against auditor Grant Thornton LLP might have to start calling the Second Circuit the defibrillator court.
More than a year after failing to block class certification, JPMorgan Chase & Co. and its lawyers at Stroock & Stroock & Lavan have agreed to settle claims that the bank improperly jacked up credit-card holders' minimum monthly payments.
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