Deloitte Touche Tohmatsu Ltd. would undoubtedly like to forget how, from 2004 to 2010, it gave clean audit opinions to Longtop Financial Technologies, the U.S.-listed Chinese software company that collapsed in 2011 under the weight of a massive accounting scandal. On Wednesday Deloitte’s lawyers at Sidley Austin got their client little closer to washing its hands of the Longtop affair, when a judge in Manhattan dismissed the auditor from a securities class action brought on behalf of Longtop’s disgruntled U.S. investors.
via Deloitte Escapes Class Action over Longtop Audit — The Litigation Daily
