USACM Liquidating Trust v. Deloitte &Touche
- Citation:
- No 11-15626 (9th Cir., June 6, 2014)
- Tag(s):
-
- Ruling:
- The Court of Appeals for the Ninth Circuit, amending its opinion dated February 18, 2014, AFFIRMED the decision of the district court, and denied debtor's petition for a rehearing.
- Procedural context:
- Appeal by the liquidating trust from the district court's summary judgment in favor of the defendant, debtor's former outside auditor, which the trust alleged had wrongfully issued unqualified audit opinions.
- Facts:
- The misconduct of the debtor's CEO and the president was imputed to the debtor under Nevada's "sole actor" rule.
As the misconduct by the CEO and the president and the knowledge of it was imputed to the debtor, the statute of limitations had expired prior to the petition date, and the debtor's claims against the defendant were therefore ineligible for a two-year extension.
- Judge(s):
- J. Clifford Wallace, Sandra S. Ikuta, and Marvin J. Garbis.
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