Law360, New York (August 15, 2007, 12:00 AM ET) -- Accounting firm BDO Seidman LLP must pay a total of $521 million in damages to a Portuguese bank after it was found guilty of failing to unearth a fraud that led to the collapse of a Florida financial services company.
The Chicago-based firm, which plans to appeal the decision, was hit with the damages bill Tuesday, after a Florida jury found it owed punitive, as well as compensatory, damages to Banco Espirito Santo, which had invested in the bankrupt E.S. Bankest LLC.
The jury handed down...
Jury Orders BDO Seidman To Cough Up $521M
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