New York’s highest court has held that the in pari delicto and imputation defenses remain available to a corporation’s outside auditor who allegedly failed to detect the malfeasance of the corporation’s executives. Kirschner v. KPMG, LLP, and Teachers’ Retirement System of Louisiana v. PricewaterhouseCoopers, LLP (October 21, 2010) (Kirschner).
Drinker Biddle & Reath LLP