June 25, 2003

Class Action Against Arthur Anderson May Proceed

Reuters reports that the S.D.N.Y. has denied Arthur Anderson's motion to dismiss a WorldCom-related securities class action pending against the defunct accounting firm. The suit "accuses Andersen of failing to properly review and investigate WorldCom's adjustments and journal entries in its books and argues the firm should have discovered the $11 billion accounting fraud at the telephone company."

Posted by Lyle Roberts at June 25, 2003 9:20 PM | TrackBack
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