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NY Court Declines To Bump Up Auditors' Fraud Liability

By Megan Stride (October 25, 2010, 11:12 AM EDT) -- New York's highest court has ruled against expanding third-party liability in cases in which a corporation's management engaged in financial fraud that was either assisted or missed by outside advisers, shutting down arguments brought by creditors of the now-defunct commodities trading firm Refco Inc. and shareholders of American International Group Inc....

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