September 30, 2022

Ernst & Young Found to be ‘Marginally Negligent’ in Superior Bank Case, Will Pay Plaintiff $10M

Color us surprised:

A Broward County jury on Wednesday dealt a small blow to Ernst & Young in a negligence and fraud lawsuit, deciding that the accounting giant was only marginally negligent for a local businessman’s losses in connection with the demise of Superior Bank in 2001.

UPDATE, 7:00 pm EST, E&Y Statement: We believe we should have prevailed and will seek appropriate relief from the courts.
Ernst & Young to pay $10M in Superior Bank lawsuit [Triangle Business Journal]

Color us surprised:

A Broward County jury on Wednesday dealt a small blow to Ernst & Young in a negligence and fraud lawsuit, deciding that the accounting giant was only marginally negligent for a local businessman’s losses in connection with the demise of Superior Bank in 2001.

UPDATE, 7:00 pm EST, E&Y Statement: We believe we should have prevailed and will seek appropriate relief from the courts.
Ernst & Young to pay $10M in Superior Bank lawsuit [Triangle Business Journal]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Sarcastically Surprised Kirk meme

The Talent Shortage Has Gotten So Bad Clients Are Now Doing Their Own Audit Documentation

The Securities and Exchange Commission has charged Deloitte China with failing to comply with fundamental U.S. auditing requirements because in numerous audits over numerous years Deloitte China asked clients to select their own samples for testing and to prepare their own audit documentation. From the SEC press release: The Securities and Exchange Commission today charged […]