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On Nov. 25, 2025, the New York Court of Appeals issued a decision in Article 13, LLC v. LaSalle Natl. Bank Assoc., No. 96, 2025 WL 3272351 (N.Y. Ct. App. Nov. 25, 2025)...

Decisions establish limited liability of auditors (a) to third-party investors in client, (b) for alleged failure to disclose client’s fraud, absent evidence of scienter, (c) for alleged failure to correct client’s statements in reviewed but unaudited quarterly financial statements, and (d) for alleged statements not concealing the risk that caused plaintiffs’ loss.