Bank of America, N.A. v. BDO Seidman, LLP

Fabricant, Judith, J.

INTRODUCTION

This action arises from a long-term lending relationship between Bank of America and its predecessors (the bank) and Cobblestone Corporation of Northern New England, Inc. (CCNNE). CCNNE defaulted on its debt to the bank in the amount of $20.5 million. The bank seeks to recover its loss from CCNNE’s individual principals,1 as well as from BDO Seidman (BDO), which audited financial statements for CCNNE’s parent corporation, and for CCNNE for certain years.2 The Court conducted a juiy-waived trial over 23 days, beginning on September 8, 2011, and ending on…