Deloitte Says Actrade Suit Imperils Class Settlement

Law360, New York (August 2, 2011, 5:26 PM EDT) -- Deloitte & Touche LLP told a Delaware federal court on Friday that a malpractice lawsuit filed by the trustee overseeing Actrade Financial Technologies Ltd.'s liquidation breached a proposed class action securities settlement linked to the company's 2002 bankruptcy.

Deloitte claims that the trustee Jonah M. Meer agreed to release Deloitte from any further claims linked to the Actrade bankruptcy as part of a settlement with class action plaintiffs in New York. It argues that the lawsuit filed in June in Delaware state court — which was...
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