“A successful lawsuit against E&Y could result in a court finding that the failure to properly advise the audit committee prevented Lehman from taking genuine steps to substantially reduce its leverage, which may have saved the firm from bankruptcy. Which is to say, E&Y could find itself blamed for all the losses to Lehman shareholders. That would be a stretch – such a claim would be speculative – but it still should be scaring the heck out of the partners.”
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Don’t Forget about the Ernst & Young Holiday Rager Tonight!
In case you’ve been so distracted by the Tiger Woods story that everything else has been pushed to the back corners of your mind, we’ll remind you that New York FSO Holiday Party is tonight from 6 to 10 pm over at Tavern on the Green.
For the less fortunate of you, this may be your last chance to get some shameless ass-grabbing done. So if you’ve got nothing better to do, we suggest you check it out.
On the booze front, we’re keeping our fingers crossed that you’ll have open bar, but judging by the actions of other E&Y offices, you might want to stop by the ATM just in case.
Our invite appears to have gotten lost so if someone wouldn’t mind sending ours over that would be great. We’ll accept especially festive pics in lieu of an invite (read: JIM. TURLEY. DANCING.) Have a great time, and don’t forget who you’re representing (?).