February 22, 2003 |
Accounting firm Deloitte & Touche agreed to settle claims stemming from its audit of collapsed insurer Kentucky Central Life Insurance Co. for $23 million, according to court documents. The settlement agreement was filed in Kentucky's Franklin County Circuit Court for approval. A hearing may be held in early March. The settlement resolves all allegations against Deloitte related to its role as auditor of Kentucky Central Life, which collapsed in 1993.
August 19, 2004 |
Italian dairy company Parmalat sued Grant Thornton International and Deloitte Touche Tohmatsu for $10 billion, saying the auditors overlooked fraud and looting that nearly led to the company's downfall. The lawsuit, filed in Chicago by the insolvent conglomerate's new management, alleges that the company has lost more than $10 billion because of Grant Thornton's and Deloitte's audits and other actions.
July 22, 2002 |
Arthur Andersen Business Consulting, the German consulting business of Arthur Andersen, is merging with Deloitte Consulting, the German unit of Deloitte Touche Tohmatsu's management consulting business, the German business newspaper Handelsblatt said, without citing a source. A letter of intent has been signed, and the companies plan to make the merger public next week, Handelsblatt said.
July 15, 2005 |
A federal judge refused to dismiss a lawsuit that accused Deloitte Touche Tohmatsu and Grant Thornton International of helping Italian dairy company Parmalat Finanziaria to understate its debt and overstate its assets. The ruling by U.S. District Judge Lewis Kaplan in New York is the second in three weeks in which he has refused a request by the two accounting firms to dismiss a lawsuit. He ruled June 28 that a suit by Parmalat stockholders and bondholders could proceed.
November 17, 2000
Ten Orange County companies are among the 500 fastest-growing North American corporations, based on revenue gains over five years, according to a ranking released Thursday by national accounting firm Deloitte & Touche. Autobytel.com Inc., the Irvine online auto shopping service, was the county's fastest growing firm, ranking 27th nationally with a 14,607% increase in revenue. It was followed by Broadcom Corp. at 56th, I/OMagic Corp. at 65th, SRS Labs Inc. at 95th, Micro Therapeutics Inc.
November 22, 1999 |
Fifteen Southern California companies made the Deloitte & Touche national ranking of the 500 fastest-growing companies for 1999. Pasadena-based Internet service provider EarthLink Network came in third by boosting revenue 158,405% over a five-year period. Other Tech Coast companies in the top 100 were: Miravant Medical Technologies of Santa Barbara (No.
July 9, 2002 |
Adelphia Communications Corp. told federal regulators Monday that it decided in June it wasn't appropriate to give former auditor Deloitte & Touche any more information because of the accountant's "unreasonable refusal" to resume an audit of the cable television company. Adelphia made the comments in an amendment to a Securities and Exchange Commission filing in which it had disclosed letters Deloitte wrote the firm and the SEC claiming that Adelphia withheld data the accountants needed.
February 28, 1992 |
California insurance regulators Thursday accused former officials and associates of failed Executive Life Insurance Co. of fraud in a multibillion-dollar lawsuit that seeks reimbursement of losses for policyholders. The suit accuses Fred Carr, the former chief executive of Executive Life, and Michael Milken, the convicted Drexel Burnham Lambert junk bond trader, of fraud, misrepresentation, breach of fiduciary duty and other wrongdoing that led to the firm's collapse in April.