PracticeAccounting FirmsE&Y pays $3.5m in pasta lawsuit

E&Y pays $3.5m in pasta lawsuit

Stateside division of Big Four firm settle in class action lawsuit alleging violations of securities law at US pasta maker

Ernst & Young’s US arm has agreed to pay $3.5m (£1.8m) to affected
shareholders for its part in a class-action lawsuit involving US pasta giant
American Italian Pasta.

E&Y’s offer, pending approval by plaintiffs, would provide 15 cents a
share before expenses, the Kansas City Star reported.

In mid-2005 shareholders filed a series of lawsuits, alleging violations of
securities laws, against the pasta maker, its directors and various officers and
Ernst & Young. The suits were consolidated into one class-action lawsuit in
early 2006.

Earlier this year American Italian, one of the largest pasta makers in North
America, agreed to pay $25m to shareholders who are a part of the class-action
lawsuit

Related Articles

BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

3d Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

5d Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

7d Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

2w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

2w Emma Smith, Managing Editor
RSM announces two partner promotions

Accounting Firms RSM announces two partner promotions

2w Emma Smith, Managing Editor
Backsourcing: The latest accountancy trend?

Accounting Firms Backsourcing: The latest accountancy trend?

1m Pillsbury Winthrop Shaw Pittman