4th Circ. Backs Accountants Against Keystone Exec

Law360, New York (June 25, 2008, 12:00 AM EDT) -- A federal appeals court has ruled that accounting giant Grant Thornton LLP was not liable for the lost earnings of the former president of First National Bank of Keystone, who claimed he relied on an audit report by the firm in accepting the job just months before the bank imploded.

Overturning a West Virginia federal district court, the U.S. Court of Appeals for the Fourth Circuit said Grant Thornton was not guilty of negligent misrepresentation when it gave the bank a clean bill of financial health...
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.