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A federal judge has rejected an attempt by disappointed investors in the bankrupt company The Warnaco Group to hold Deloitte & Touche responsible for losses from the company's meltdown. Southern District of New York Judge Miriam Goldman Cedarbaum said the plaintiffs' claims failed because they argued that Deloitte's actions led to an artificial inflation of the company's stock price and the Supreme Court has recently held that argument, without more, is insufficient to show loss causation.
September 30, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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