Deloitte has settled a lawsuit relating to audit client General Motors for
As part of the settlement, GM itself paid $277m. The case alleged that GM
had issued a series of false and misleading statements, dating back to 2000,
‘We think this is an excellent recovery for the class in light of the current
economic climate and in light of the particular difficulties the automotive
industry is facing,’ said James Sabella of Grant & Eisenhofer, a law firm
representing the plaintiffs.
‘Deloitte & Touche LLP is pleased that it has been able to resolve the
securities class action brought by investors in General Motors Corporation.
Although it has strong defenses to these claims, Deloitte concluded that it was
in the best interests of the firm and its clients to settle this matter now
rather than face the burden, expense and uncertainty of continued litigation,’
quoted the firm saying.
Mazars has announced the appointment of Michael Tripp as the new head of financial services
A new leader, Darra Singh has been appointed to lead EY’s UK government and public sector practice
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com