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End Of The Road For A Challenge To Rule 17(c)

Law360, New York (January 3, 2017, 1:22 PM EST) -- Let’s begin with a hypothetical: Suppose that Michael Rand is a certified public accountant and the controller and chief accounting officer of Beazer Homes USA, a publicly traded company. Assume that during a routine audit, Beazer’s auditors discover some accounting irregularities that raise alarm bells. Beazer brings in a law firm to do an internal investigation and discovers that Rand had engaged in questionable accounting practices to meet earnings targets. It fires Rand and alerts the U.S. Securities and Exchange Commission. The SEC issues subpoenas, conducts...
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