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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.”

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