Accounting & Taxation

  • Handled a matter involving a complex investment fraud and fraudulent tax shelter Ponzi scheme, involving securities and and tax fraud claims involving commodities and limited partnerships investments.

  • Handled an income tax evasion case involving unreported kickback income received by a purchasing agent for a shipping company.

  • Handled a matter involving a $100 million accounting malpractice action against a national accounting firm filed by the bankruptcy trustee of a NASDAQ-listed national distributor of personal care products, alleging improper auditing and application of revenue recognition criteria and errors in the installation of a major ERP system impacting financial statements, customer relationship management, and supply chain management.

  • Handled a matter between a class of investors and a national accounting firm arising from the bankruptcy of a major homebuilder, alleging errors in accounting for net realizable value write-offs and deferred tax asset estimates among other issues. Plaintiffs sought $95 million in damages.

  • Handled a matter involving a national accounting firm and two of its partners in a $15 million lawsuit arising out of the failure of a Scottsdale life insurance company and an associated insurance service agency. The plaintiff alleged accountant malpractice, negligent misrepresentation and interference with contractual relations, claiming that there were audit failures and accounting errors. There were significant corporate governance issues regarding whether the plaintiff shareholder and officer could bring the claims or whether they were corporate claims requiring a derivative suit and pre-suit demand.

  • Handled a matter involving a national accounting firm and one of its partners in a $15 million action for accountant malpractice, breach of fiduciary duty, fraud and racketeering, involving tax planning and financial statement work for two British Virgin Islands corporations that invested in U.S. real estate. There were issues regarding the membership of the Board of Directors, whether a pre-litigation demand was made on the Board, and the status of the claims given a revocation of the corporations’ operating status.