Judge Stays Penthouse Publisher's Suit Over $500M Acquisition

Law360, New York (July 23, 2012, 8:08 PM EDT) -- A New York state judge on Monday temporarily put on hold Penthouse magazine publisher FriendFinder Networks Inc.'s suit against accounting firm Grant Thornton LLP, which allegedly didn't uncover a personal-ad company's failure to pay European taxes before the publisher bought it for $500 million.

Judge Lawrence K. Marks said at the end of a hearing in his downtown Manhattan courtroom that he would stay the case in New York while a similar suit in Florida state court plays out instead of tossing out most of FriendFinder...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.