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Deloitte Touche

BUSINESS
August 19, 2004 | From Associated Press
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.
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BUSINESS
July 22, 2002 | Bloomberg News
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.
BUSINESS
July 15, 2005 | From Bloomberg News
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.
BUSINESS
July 9, 2002 | BILL BERGSTROM, ASSOCIATED PRESS
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.
BUSINESS
February 28, 1992 | KATHY M. KRISTOF, TIMES STAFF WRITER
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.
BUSINESS
July 16, 1999 | From Bloomberg News
The accounting firm Deloitte & Touche said Thursday that it severed its relationship with 2TheMart.com, marking the latest of several setbacks for the company that plans to launch an Internet auction site. Shares of Irvine-based 2TheMart.com plummeted 21% on Thursday after the departure of the accounting firm was disclosed. The stock closed at $14, down $3.63 in heavy trading over-the-counter.
CALIFORNIA | LOCAL
May 17, 1998
Advocates for the mentally ill were shocked by the Board of Supervisors' 3 to 2 decision to merge mental health with welfare and create a new Human Services Agency on April 7. The supervisors hired the consulting firm of Deloitte & Touche to study the issue. The firm raised serious questions about Medicare / Medi-Cal reimbursement and the possible loss of millions of dollars if the license were moved from the Health Care Agency. As a result of that study the county [chief] administrative officer recommended that mental health care remain under the Health Care Agency.
CALIFORNIA | LOCAL
September 3, 2000
Re "Morgan Ordered to Cut Remarks About Long on Statement," Aug. 26. Supervisor Kathy Long's debating Mike Morgan's ballot statement is absurd. The loss of taxpayers' money caused by the merging of the county Behavioral Health Department and the Human Services Agency continues to escalate. Long should have resigned a long time ago for voting in favor of the merger against the advice of then-Chief Administrative Officer Lin Koester and the feasibility study conducted by consultants Deloitte & Touche.
CALIFORNIA | LOCAL
November 8, 1998
Re "Decision on Merger Was Reasoned and Rational," by Supervisor Kathy I. Long, Oct. 11. Supervisor Long's article was a total disappointment to us who have been watching closely since she and Supervisors John Flynn and Susan Lacey voted to merge the Behavioral Health Department with the Public Social Services Administration on April 7. Yes, it's true that the merger was given considerable thought and analysis. In fact, a well-known consulting firm, Deloitte & Touche, was hired with taxpayers' money.
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