Law360, New York (April 8, 2016, 4:24 PM EDT) -- The Second Circuit on Friday shot down a group of hedge funds' attempt to hold Deloitte & Touche LLP and its Shanghai subsidiary liable for audits they claimed glossed over $140 million in embezzlement and fraud at e-learning company ChinaCast Education Corp.
(Credit: U.S. Courts) The investors had tried to revive the suit tossed last year in Manhattan federal court, arguing Deloitte Touche Tohmatsu CPA Ltd. had failed to probe what investors called indicators that ChinaCast executives were bilking the company and its shareholders. The appeals...
2nd Circ. Sides With Deloitte In $140M ChinaCast Fraud Row
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