Judge: Lead Plaintiff Properly Pleaded Securities Claim Against Auditor

Judge: Lead Plaintiff Properly Pleaded Securities Claim Against Auditor

LOS ANGELES - A federal judge in California on April 2 denied an auditing firm's motion to dismiss a federal securities law claim against it that alleges that the firm issued misrepresentations in financial statements it certified for a Chinese energy company, ruling that the lead plaintiff in the action has properly pleaded its claim (Larry Brown v. China Integrated Energy Inc., et al., No. 11-2559, C.D. Calif.; 2012 U.S. Dist. LEXIS 47019).

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