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Question: Rule 10(b)-5 Liability under the Securities Exchange Act of 1934. Gordon & Groton (G&G), CPAs, were auditors of Bank & Company, a brokerage firm and member of a national stock exchange. G&G examined and reported on the financial statements of Bank, which were filed with the Securities and Exchange Commission. Several of Bank's customers were swindled by a fraudulent scheme perpetrated by Bank's president, who owned 90 percent of the voting stock of the company. The facts establish that G&G failed to perform the audit with the appropriate level of professional care but neither participated in the fraudulent scheme nor knew of its existence. The customers are suing G&G under the antifraud provisions of section 10( b ) and Rule 10 b -5 of the Securities Exchange Act of 1934 for aiding and abetting the president's fraudulent scheme. The customers' suit for fraud is predicated exclusively on G&G's failure to conduct a proper audit, thereby failing to discover the fraudulent scheme. Required: Answer the following, setting forth reasons for any conclusions stated.
a. What is the probable outcome of the lawsuit?
b. What might be the result if plaintiffs had sued under common law for ordinary negligence? Explain.
Just before Greensburg breached the contract, it made a large shipment of furniture to Woolrich that amounted to about half the furniture that Woolrich had just ordered from Greensburg. Are there any additional losses Woolrich could claim
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Based on your readings and research, in a 2 page paper, using APA style formatting, explain the sociological, political, and economic catalysts for prison violence
Choose 1 of the specific rights from above, and discuss how that right has affected procedures implemented in law enforcement, the courts, or correctional facilities
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Summarize the Sarbanes-Oxley of 2002 as it relates to U.S. business operations. Explain the governance principles of regulatory compliance requirements related to Sarbanes-Oxley. Discuss the role of the SEC and how Sarbanes-Oxley affected the agency.
First, include a bit of research on the consumer "plain language movement" in your answer. You can use the keyword terms of "plain language movement and the name of your state, such as Pennsylvania."
in our legal system the law is a system of rules and regulations enforced by government primarily through the judicial
You will write your opinion paper for the case (Principle of Justice) you've been researching in the previous weeks. Use outside resources (preferably refereed, scholarly journal articles) to defend your opinion of the case
describe the product subject to recall including the recall date recall number and the reason for the recall.analyze
Bruce subsequently discovered the goods were faulty and stopped payment on the check. Can Saul recover payment from Bruce? Why?
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