July 14, 2006

Legal Briefs: A Periodic Summary of Judicial Decisions Affecting Accounting and Financial Services Professionals - July 2006

Professional Services Liability Newsletter

In This Issue:

  • New Jersey High Court Rules That Company's Fraud Does Not Bar Negligence Suit Against Its Auditor
  • Directors of Acquired Company Did Not Breach Their Duty by Not Conducting Due Diligence into Accuracy of Acquiror's Financial Condition
  • Lack of Agreement on Valuing Goodwill Creates Problems for a Start-Up Medical Practice
  • Court Upholds Subpoena to Accountant for Records of a Non-Party Client
  • Confidentiality Agreements Not Always Enforced by Courts
  • In Brief
  1. Third Circuit Rejects "Deepening Insolvency" Claim Against Accounting Firm
  2. No Affidavit of Merit Required for Third-Party Complaint Seeking Contribution for Professional Malpractice
  3. Rent-to-Own Contracts Subject to Retail Installment Sales Act, Criminal Usury Law and Consumer Fraud Act
  4. Lawyers Who Represent Multiple Clients Cannot Settle Based on Majority Vote

Services and Industries

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