Teachers’ Ret. Sys. of La. v. PriceWaterhouseCoopers LLP
Teachers’ Ret....Error: No video found
(Del., Corp. Governance, Corporation & Enterprise Law, Ethics & Professional Responsibility, Injury And Tort Law) In a shareholder derivative action brought on behalf of AIG for breach of fiduciary duty against PricewaterhouseCoopers under New York law, the Delaware Supreme Court certifies the following question to the New York Court of Appeals: Would the doctrine of in pari delicto bar a derivative claim under New York law where a corporation sues its outside auditor for professional malpractice or negligence based on the auditor’s failure to detect fraud committed by the corporation; and, the outside auditor did not knowingly participate in the corporation’s fraud, but instead, failed to satisfy professional standards in its audits of the corporation’s financial statements?
