Accounting Firm Reverses Multimillion-Dollar Judgment

An accounting firm obtained reversal on appeal of a multimillion-dollar judgment awarded to the former president of an insolvent bank who claimed to have relied on a negligently prepared audit opinion in deciding to accept the position. The appellate court agreed that the auditor owed no duty to the audit client’s employee. Our firm represented the accounting firm. Ellis v. Grant Thornton LLP, 530 F.3d 280 (4th Cir. 2008).