High Court Nixes Deloitte's Appeal Over Fraud Suit Standing

Law360, New York (January 9, 2012, 3:36 PM EST) -- The U.S. Supreme Court on Monday rejected Deloitte & Touche LLP's appeal of a top New York state court's ruling that allowed a liquidating trust representing more than 800 bondholders to sue the auditor for fraud in state court.

In a summary order, the high court declined to hear Deloitte's challenge to the New York Court of Appeal's June ruling that the RGH Liquidating Trust, representing some 800 bondholders of defunct insurer Reliance Group Holdings Inc., had standing to bring fraud claims against Deloitte.

Despite representing...
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