![]() Beyond power, it also adds overcurrent, overvoltage and short-circuits protection to prevent all your devices from overcharging. “A jury reasonably could determine that the audit was so deficient as to be highly unreasonable, representing an extreme departure from the standards of ordinary care,” Lohier wrote.Ready to provide safe charging across several voltages, this charger easily tackles different electronics for safe and reliable charging. The judge said these signs included questionable timings of large transactions, which concealed declining core revenue, and Winstar’s repeated failure to provide requested documents. Writing for a three-judge appeals court panel, Circuit Judge Raymond Lohier said that despite identifying “red flags” while spending 1,928 hours on the audit and assembling 3,000 pages of “working papers,” Grant Thornton “repeatedly failed to scrutinize serious signs of fraud by an important client.” The Chapter 11 filing also came one month after the investment firm Asensio & Co questioned Winstar’s accounting. Winstar, whose technology transmitted voice and data with radio signals rather than fiber-optic cables or phone wires, at that time blamed the bankruptcy on an alleged violation by its partner Lucent Technologies Inc of a vendor financing agreement. Investors, including Allianz SE funds and Fireman’s Fund Insurance Co, claimed to have lost close to $1.1 billion on Winstar stock and $200 million on Winstar debt when the New York-based company filed for bankruptcy on April 18, 2001. “Grant Thornton’s work complied with all professional standards and we look forward to proving this at trial.” “While we are disappointed in today’s decision, this is not a final decision on the merits,” Michele Mazur, a spokeswoman for Chicago-based Grant Thornton, said in a statement. The case will return to the district court. District Judge George Daniels in Manhattan. ![]() Thursday’s decision reversed a September 2010 ruling by U.S. ![]() Circuit Court of Appeals in New York said a lower court was wrong to dismiss claims that Grant Thornton deliberately ignored signs of fraud at Winstar Communications Inc, one of its largest clients, when vetting its financial statements for the 1999 fiscal year. ![]() July 19 (Reuters) - A federal appeals court has revived a lawsuit accusing Grant Thornton LLP of defrauding shareholders and bondholders of a broadband services company it had audited, and which went bankrupt during the telecom bubble a decade ago. ![]()
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