Appellate.net

 
home
about the group
appellate attorneys
briefs
docket reports
oral arguments
news on
 mayerbrown.com
contact
 
9 July 2003

Sixth Circuit affirms dismissal of securities fraud suit against Ernst & Young
Mayer, Brown, Rowe & Maw LLP

9 July 2003, Chicago - The U.S. Court of Appeals for the Sixth Circuit has affirmed dismissal of a securities fraud lawsuit against the accounting firm of Ernst & Young. The plaintiff pension fund initially sued clothing manufacturer Fruit of the Loom after the value of the company's shares plummeted due to the revelation of financial reversals. Two years later, the plaintiff sued Ernst & Young on behalf of a purported class. The court of appeals ruled that the suit against Ernst & Young was barred by the applicable one-year statute of limitations because the plaintiff was on inquiry notice and should have discovered the alleged violations through reasonable diligence more than one year before filing suit. Stanley Parzen, Brad Andreozzi, and Jeff Sarles of Mayer, Brown, Rowe & Maw LLP represented Ernst & Young. New England Health Care Employees Pension Fund v. Ernst & Young, LLP, No. 01-6523 (6th Cir. July 9, 2003).

Read Brief | Opinion


[ Go Back ]

 
 
© 2014. The Mayer Brown Practices. All rights reserved. --  Legal Notices | Attorney Advertising

Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the “Mayer Brown Practices”). The Mayer Brown Practices are: Mayer Brown LLP and Mayer Brown Europe – Brussels LLP, both limited liability partnerships established in Illinois USA; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales number OC 303359); Mayer Brown, a SELAS established in France; Mayer Brown JSM, a Hong Kong partnership and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. “Mayer Brown” and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.