Some Refco-Related Claims V. Grant Thornton Tossed

By Pete Brush (August 7, 2008, 12:00 AM EDT) -- A lawsuit claiming Grant Thornton LLP is responsible for an investment firm's massive losses in connection with the collapse of Refco Inc. was partially thrown out Wednesday.

A federal judge tossed Thomas H. Lee Equity Fund V LP's claims of negligent misrepresentation and professional malpractice but allowed a claim of aiding and abetting fraud to go forward against the auditing and consulting firm.

The suit, first filed in state court and later moved to the U.S. District Court for the Southern District of New York, alleges Grant Thornton knew about the now-defunct Refco's fraudulent loan transactions in April 2004 — during...

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