Grant Thornton LLP v. Prospect High Income Fund

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that when fraud claim based on purported misrepresentations fails, conspiracy and aiding and abetting claims dependent on that fraud fail as well
• concluding that summary judgment was proper on investors’ claims against auditors and stating that “a person may not justifiably rely on a representation if ‘there are “red flags” indicating such reliance is unwarranted’”
• stating that fraud requires the plaintiff to show an intent to deceive and actual and justifiable reliance
• stating that fraud requires the plaintiff to show an intent to deceive and actual and justifiable reliance
• holding auditors under contract with timeshare operator could be liable to third-party investor with special relationship to audited corporation for negligent misrepresentation in audit report
• explaining that “given a fraud plaintiff’s individual characteristics, abilities, and appreciation of facts . . . it is extremely unlikely that there is actual reliance on the plaintiff’s part”

Source: CourtListener parenthetical corpus (CC0).