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9th Circ. Renews Case Over E&Y Role In $2.2B Scandal

Law360 (April 14, 2011, 5:10 PM EDT) -- The Ninth Circuit on Thursday said Ernst & Young LLP must face allegations that its auditors knowingly covered up the $2.2 billion Broadcom Corp. backdating scandal, overruling a lower court that found the auditors might have simply made errors.

Reversing a lower court win for the accounting firm, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit said Broadcom investors who lost money in the scandal could pursue a case against E&Y, Broadcom's auditor.

When Broadcom acknowledged the backdating, which took place...
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