Ernst & Young Wins Rehearing Of Malpractice Damages

Law360, New York (June 9, 2010, 3:07 PM EDT) -- Ernst & Young LLP has won a rehearing of an appeal of a damages calculation ruling in a fraud and malpractice case brought by its bankrupt client CBI Holding Co. Inc., a procedural victory that could trim E&Y's damages in the bankruptcy case by as much as $16 million.

If the bankruptcy court had included all of the 1994 sales attributable to CBI subsidiary Holsin in the debtor's 1994 sales, the damages multiplier would have decreased from 22 percent to 19 percent and E&Y’s pre-interest damages...
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