Michael Coady, et al v. Ernst & Young
Case Number:
12-56216
Court:
Nature of Suit:
Sectors & Industries:
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April 24, 2014
9th Circ. Rejects Suit Over Ernst & Young's IndyMac Audit
The Ninth Circuit on Thursday refused to revive a former IndyMac Bancorp Inc. investor's proposed securities class action accusing Ernst & Young LLP of concealing the bank's perilous condition before its collapse, agreeing with the district court that the plaintiff had failed to state a claim.
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April 09, 2014
Ernst & Young Hid IndyMac Crisis, Investor Tells 9th Circ.
A former IndyMac Bancorp Inc. investor on Wednesday urged the Ninth Circuit to revive a putative securities class action accusing Ernst & Young LLP of concealing the bank's perilous condition before its collapse, saying the accounting firm falsely opined that IndyMac's financial statements conformed with generally accepted accounting principles.