November 27, 2024
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BLB&G Partner Jesse Jensen and Associate Tom Sperber analyzed the impact of the ongoing securities fraud litigation against financial services company Amtrust in their recent Law360 article “2nd Circ. AmTrust Decision Shows Audit Reports Still Matter.”
The article examines the Second Circuit’s reversal of a district court’s dismissal of claims against BDO USA LLP, AmTrust’s independent auditor, which had been accused of issuing false and misleading financial reports. The authors discuss the broader implications of the initial dismissal for investors, as well as the importance of the Second Circuit’s reversal in reaffirming the significance of reliable audit reports. They conclude that while the decision is a positive development, it underscores persistent challenges within the auditing industry and the need to protect investors by ensuring the integrity of financial disclosures.
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