Deloitte's Counterclaims Stand In Actrade Securities Case

Law360, New York (September 11, 2012, 11:00 PM EDT) -- A New York federal judge on Tuesday denied a move by the trustee of bankrupt Actrade Financial Technologies Ltd. to toss certain counterclaims by Deloitte & Touche LLP in a securities action, finding there are questions that remain about alleged settlement agreements in the case.

Deloitte claims that a separate malpractice lawsuit filed against it by the trustee overseeing Actrade's liquidation breached a proposed class action securities settlement agreement linked to Actrade's 2002 bankruptcy.

Deloitte also maintains that trustee Jonah M. Meer agreed to release Deloitte from...
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