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Home / Opinion Digests / Company’s Accounting Struggles Not Fraud (access required)

Company’s Accounting Struggles Not Fraud (access required)

In this case alleging officers and directors of Municipal Mortgage & Equity violated federal securities laws by falsely representing that the company was in full compliance with a new accounting standard enacted in 2003, and in concealing the substantial cost of correcting the error, the 4th Circuit affirms dismissal of the claims against defendants. In 2003, ...