How Long Do Management and the Audit Committee Have to Act
How long do management and the audit committee have to act if the independent auditor reports possible illegal acts to them?
C)Three business days
D)One business day
The "particularity" provision in the PSLRA allows a plaintiff to:
A)Sue the auditor
A "particularized" allegation requires establishing:
A)Strong circumstantial evidence of conscious misbehavior
B)Strong circumstantial evidence of recklessness
C)Facts showing the defendant had both motive and opportunity to commit securities fraud
D)All of the above
The Private Securities Litigation Reform Act of 1995 applies the practice of ______ to auditor liability determinations.
B)Joint and several liability