3 ms·

No liability for the negligent accountants?

• bonsaitree 17y ago
  Likely the financial (and social family) cost of "gross negligence" litigation would well exceed any measurable benefit. If the owner has a strong case, a private settlement for 30-50% damages is the most likely outcome. Even in the unlikely event the accounting firm broke/abused their fiduciary duties AND a circuit/general court tort verdict was in this owner's favor, it would take years for the funds to work their way through the system.
• fatdog789 17y ago
  Most courts resolve small cases like this within a year or two, including appeals. Indeed, a case that lasts more than 2 years is considered anomalous unless a huge corporation or very wealthy clients are involved. It would take about 1 week to 10 days once appeals have resolved for the funds to work their way through the system. Every state has a deadline for paying off judgments. The only reason payment of a judgment would be delayed is if the defendant declared bankruptcy.
• sho 17y ago
  Maybe the accountant, if he even exists, was doing exactly what he was told? By far the most likely scenario IMO.