6th Circ. Clears Ernst & Young Of Accredo Fraud Claims

Law360, New York (September 22, 2010, 6:02 PM EDT) -- A federal appeals court ruled Wednesday that Accredo Health Group Inc. shareholders failed to make a case that Ernst & Young LLP committed fraud in audit reports understating the financial woes at acquisition target Gentiva Health Services Inc., which ultimately caused Accredo's stock price to plunge.

The U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of the class action, finding that the plaintiffs did not allege sufficient facts showing that Ernst & Young knew about errors in statements the auditor issued in connection...
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