September 20, 2019

Quote of the Day: Ernst & Young Partners Losing Sleep? | 03.12.10

“A successful lawsuit against E&Y could result in a court finding that the failure to properly advise the audit committee prevented Lehman from taking genuine steps to substantially reduce its leverage, which may have saved the firm from bankruptcy. Which is to say, E&Y could find itself blamed for all the losses to Lehman shareholders. That would be a stretch – such a claim would be speculative – but it still should be scaring the heck out of the partners.”

~ John Carney

“A successful lawsuit against E&Y could result in a court finding that the failure to properly advise the audit committee prevented Lehman from taking genuine steps to substantially reduce its leverage, which may have saved the firm from bankruptcy. Which is to say, E&Y could find itself blamed for all the losses to Lehman shareholders. That would be a stretch – such a claim would be speculative – but it still should be scaring the heck out of the partners.”

~ John Carney

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Hiring Watch ’19: Working at EY In Louisville Could Be NEAT

Add Louisville, KY, to the list of cities where EY is hiring en masse. Louisville Business First reported on Sept. 6: Ernst & Young LLP is making another investment in Louisville after spending $4.3 million to open its National Executive Assistant Team facility downtown early last year. The company said in a news release Friday […]