Florida Court Overturns $521M Verdict in BDO Seidman Case, Orders New Trial

In Florida today, a state appeals court threw out the $521 million jury verdict against BDO Seidman LLP that had resulted from a dispute with Portuguese bank Banco Espirito Santo SA. The court has ordered a new trial in the case, Dow Jones Newswires reports. BDO Seidman has previously acknowledged that it does not have $521 million available as a US firm, and that paying such a judgment would break the US firm. Full details are available in this post on my Enforcement Action blog over at Compliance Week.