McGladrey is the next tier public accounting firm with the alternative practice structure and exposure to Madoff and Petters fraud litigation as well as responsibility for the Sentinel fraud.
Rates hardened further, thanks to American litigation over asbestos and securities fraud.
When they named Deloitte US as a defendant, the lawyers for the plaintiffs, Lowenstein Sandler LLP, broke new ground in recent China fraud-related litigation.
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He has advised plaintiffs and defendants in airline disaster, toxic spill and catastrophic injury cases, landmark whistleblower, fraud, trade secrets and patent litigation, celebrity divorce and palimony cases.
But analysts speculate that the massive litigation funds are being built up specifically for fraud allegations brought by attorneys general from multiple states who say banks including JPMorgan signed foreclosure documents without ensuring the information was accurate.
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Such claims have become a staple of patent litigation, where patent owners are frequently accused of fraud when they try to enforce claims against infringers.
One of the mysteries of securities litigation, to me anyway, is how corporate fraud artists manage to time their activities in synch with broader market volatility.
PwC has the most large, serious claims against them, including significant Madoff feeder fund litigation, as well as four crisis-era international fraud cases, Satyam, Glitnir, Yukos, and Landsbanki.
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"The mere possibility of such (fraud) claims, which could expose attorneys to harassing and expensive litigation, would be likely to inhibit their freedom in making good faith evidentiary decisions and representations and, therefore, negatively affect their ability to act as zealous advocates for their clients, " Justice Peter Zarella wrote in the majority opinion.
Last year, in other papers filed with the court, CBS claimed the actors "are attempting to generate a lucrative litigation windfall by riddling their complaint with unsupported and overreaching causes of action" for fraud and breach of good faith.
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