In Re Tremont Securities Law, State Law & Insurance Litigation

How courts have described this case

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

• dismissing breach of fiduciary duty, negligent misrepresentation, and aiding and abetting breach of fiduciary duty claims as preempted
• “merely alleging that the auditor had access to the information by which it could have discovered the fraud is not sufficient.”
• same where plaintiffs “d[id] not allege that the Auditors were aware of any facts indicative of Madoffs fraud”
• “The notion that a firm hired to audit the financial statements of one client (the Rye Funds and the Market Neutral Fund) must conduct audit procedures on a third party that is not an audit client (BMIS
• “A complaint might reach the ‘no audit at all’ threshold by alleging that the auditor disregarded specific ‘red flags’ that would place a reasonable auditor on notice that the audited company was engaged in wrongdoing to the detriment of its investors.”

Source: CourtListener parenthetical corpus (CC0).