Are any of the largest audit firms besides EY vulnerable to a large legal claim such as Lehman?

FORBES: Is Any Other Audit Firm Vulnerable Besides Ernst & Young?

Criminal charges against EY by the DOJ could precipitate a failure of the firm, a la Arthur Andersen.

FORBES: NY Fraud Case Against Ernst & Young Puts Feds In Bind

The SEC, who could file civil charges against EY or an individual partner for aiding and abetting a fraud by Lehman executives, and the US Department of Justice (DOJ), who could file criminal charges, want no part of it, in my opinion.

FORBES: NY Fraud Case Against Ernst & Young Puts Feds In Bind

But Judge Kaplan has sustained an allegation against EY that implies scienter and it refers to statements made in a review of a 10-Q.

FORBES: Judge Kaplan: Ernst & Young Must Defend Lehman Investor Lawsuit