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New Hampshire Joins Data Protection Trend, Passes Comprehensive Data Protection Law
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  2. Litigation

Accounting & Financial Reporting Litigation

When your financial integrity, regulatory exposure or business reputation is at risk, Benesch is the firm you want on your side. With leading litigators, industry knowledge and a nuanced understanding of accounting and reporting standards, we take on and resolve complex financial allegations and disputes.

Benesch represents companies, audit committees, officers and directors, accounting firms, financial institutions and investors in high-value, high-stakes disputes and investigations involving alleged accounting and auditor malpractice, fraudulent financial reporting, business valuation disputes and other matters.

Our team works closely with forensic accountants and valuation experts to develop customized defense strategies that align legal advocacy with financial realities. Our seasoned litigators represent clients through all phases of litigation, from the early phases of an investigation through trial with the courtroom experience, technical knowledge and credibility needed to secure winning verdicts.

Adept at Investigating and Defending All Types of Financial Reporting Allegations

Our team is experienced in investigating and favorably resolving any allegation of accounting and financial reporting misconduct. We have prevailed in:

  • Accounting Malpractice Defense: Defending companies facing allegations of negligence, breach of professional duty and misrepresentation in audit and non-audit services.
  • Financial Fraud & Misreporting Litigation: Representing clients facing financial reporting fraud claims following whistleblower complaints, SEC investigations, or business failure.
  • Securities & Shareholder Litigation: Handling class actions, derivative suits and Section 10(b) claims arising from alleged accounting misstatements.
  • Valuation & Transaction Disputes: Representing clients in disputes over business value in mergers, acquisitions, dissolutions and buyouts.
  • Regulatory Investigations & Enforcement: Conducting internal investigations and board-level reporting for accounting and financial disclosure scrutiny and navigating parallel investigations by federal and state regulatory bodies.
  • Auditor & Professional Liability Representation: Defending the Big Four and regional accounting firms and individual CPAs in disputes relating to engagement letters, scope disputes and indemnification issues.

Cross-Disciplinary Guidance

Clients regularly turn to Benesch for proactive guidance to mitigate litigation risks in transactions. Our litigators collaborate with Benesch’s Corporate, Tax, Securities and White Collar defense teams to guide clients seeking regulatory and transaction advice. Our attorneys help clients navigate complicated financial reporting obligations under GAAP, Generally Accepted Auditing Standards (GAAS), International Financial Reporting Standards (IFRS) and Public Company Accounting Oversight Board (PCAOB) standards.

From uncovering fraudulent accounting schemes to defending audit professionals facing multibillion-dollar claims, Benesch delivers results that protect our clients’ business value, build stakeholder trust and preserve our clients’ reputations.

Our Work in Action – Representative Examples

  • Represented a “Big Four” accounting firm in auditor liability litigation seeking over $3 billion in damages. Secured a directed verdict in favor of the accounting firm following 103 days of trial testimony and argument, with the result affirmed by the state supreme court.
  • Represented a “Big Four” accounting firm in securities fraud claims by bondholders and stockholders stemming from disclosure of multibillion-dollar accounting fraud by an audit client. Claims settled following three years of fact discovery.
  • Represented a cable set-top manufacturer in a series of securities fraud class actions stemming from disclosure of accounting fraud by a customer. Prevailed on motions to dismiss all claims and all actions.
Key Contacts
  • Ronald S. Betman
    Litigation
    Chicago
  • J. Erik Connolly
    Litigation
    Chicago
  • Nicole E. Wrigley
    Litigation
    Chicago
  • William E. Walsh
    Litigation
    Chicago

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