Ghost Of Arthur Andersen Haunts Ernst & Young

Law360, New York (December 21, 2010, 8:37 PM EST) -- New York Attorney General Andrew Cuomo’s lawsuit over Ernst & Young LLP's alleged role in the collapse of Lehman Brothers Holdings Inc. has raised the specter of Arthur Andersen LLP, with some predicting the case could push the accounting giant toward similar troubles.

The civil lawsuit, filed Tuesday in the Supreme Court of the State of New York, New York County, accuses Ernst & Young of helping Lehman secretly remove tens of billions of dollars of fixed-income securities from its balance sheet in the years leading...
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