Legal Opinion
Kirschner v. KPMG LLP
New York Court of Appeals
Decided October 21, 2010No. 151, 152PublishedCited by 201 opinions
1Opinion of the Court
OPINION OF THE COURT
Read, J.
In these two appeals, plaintiffs ask us, in effect, to reinterpret New York law so as to broaden the remedies available to creditors or shareholders of a corporation whose management engaged in financial fraud that was allegedly either assisted or not detected at all or soon enough by the corporation’s outside professional advisers, such as auditors, investment bankers, financial advisers and lawyers. For the reasons that follow, we decline to alter our precedent relating to in pari delicto, and imputation and the adverse interest exception, as we would have to do…
2Cases cited28 opinions
- Securities & Exchange Commission v. TamboneCourt of Appeals for the First Circuit · 2010
- Wight v. BankAmerica Corp.Court of Appeals for the Second Circuit · 2000
- Center v. Hampton Affiliates, Inc.New York Court of Appeals · 1985
- American International Group, Inc. v. GreenbergCourt of Chancery of Delaware · 2009
- In Re Refco, Inc. Securities LitigationDistrict Court, S.D. New York · 2007
23 more not listed; retrieve them via the Exa API.
3Cited by201 opinions
- Picard v. JPMorgan Chase & Co. (In Re Bernard L. Madoff Investment Securities LLC)Court of Appeals for the Second Circuit · 2013
- Picard Ex Rel. Liquidation of Bernard L. Madoff Investment Securities LLC v. Madoff (In Re Bernard L. Madoff Investment Securities LLC)United States Bankruptcy Court, S.D. New York · 2011
- 45 John Lofts, LLC v. Meridian Capital Grp. LLC (In re 45 John Lofts, LLC)United States Bankruptcy Court, S.D. New York · 2019
- Ophthalmic Surgeons, Ltd. v. Paychex, Inc.Court of Appeals for the First Circuit · 2011
- The Honorable Karen Weldin Stewart, CIR-ML, Insurance Commissioner v. Wilmington Trust SP Services, Inc.Court of Chancery of Delaware · 2015
196 more not listed; retrieve them via the Exa API.