X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Editor’s Note: ‘Successful strategies from 10 of the nation’s top litigators: These lawyers make a habit of winning’ is a series of biographies from The National Law Journal. This is the fifth of 10.

Corporate defendants are afraid of securities fraud class actions and rush to settle, says Marshall B. Grossman: “The damages are so high and the losses are so dramatic that the risks are enormous.”

Accounting firms carry an additional burden in these suits, Mr. Grossman, a partner at Los Angeles’ Alschuler Grossman Stein & Kahan L.L.P., believes: “The audit issues are difficult for a jury to understand. No auditor has ever conducted a perfect audit, and when you combine that with staggering losses, it’s too easy for a jury to nail the auditor.” As a result, he says, “accounting firms always settle.”

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.