Chamber Asks High Court To Nix Fraud Suit Against Deloitte

Law360, New York (December 2, 2011, 10:32 PM EST) -- The U.S. Chamber of Commerce last week urged the U.S. Supreme Court to reverse a lower court's ruling that affirmed the Reliance Group Holdings Inc. liquidating trust's fraud claims against Deloitte & Touche LLP, arguing that the claims are precluded by federal securities law.

In an amicus curiae brief filed last week, the chamber contends that the New York Court of Appeals erred when it determined that the liquidating trust for the insurance company could bring state law fraud claims against Deloitte, its former outside auditor,...
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