Accounting Firm Wins Bid To Nix American Trust Claim

Law360, New York (January 7, 2010, 4:39 PM EST) -- A federal judge has tossed one claim and put another on hold in lender American Trust & Savings Bank's suit alleging accounting firm Bremser Group Inc. engaged in fraudulent financial reporting that led to Shullsburg Creamery Inc.'s inability to repay its loans to the bank.

Judge Barbara B. Crabb of the U.S. District Court for the Western District of Wisconsin on Wednesday ruled that American Trust — which was assigned rights to all the company's claims against third parties after the creamery entered into a voluntary...
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