SEC Slaps Deloitte With Subpoena Action In Longtop Probe

Law360, New York (September 8, 2011, 8:11 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday filed a subpoena enforcement action in Washington against Deloitte Touche Tohmatsu CPA Ltd., for allegedly failing to produce documents in connection with an investigation into possible accounting fraud at Longtop Financial Technologies Ltd.

Longtop, the delisted Chinese software developer that went public in 2007 in an offering coordinated by Goldman Sachs Asia LLC, announced in August that securities regulators were planning to take action against it for faulty auditing.

On May 27 the SEC served a subpoena on...
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