www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

Deloitte sued over audits of ChinaCast Education

Agencies | Updated: 2013-02-20 16:25

A group of US investment funds has sued the Chinese and US affiliates of Deloitte Touche Tohmatsu, blaming them for investor losses at troubled ChinaCast Education Corp.

The funds are seeking to recover tens of millions of dollars of investment losses from Deloitte, which audited the Chinese company's financial statements. The lawsuit was filed in US District Court in Manhattan.

Deloitte sued over audits of ChinaCast Education

The Deloitte logo is seen on a commercial tower at Gurgaon, on the outskirts of New Delhi in this Aug 9, 2012. [Photo / Agencies]

ChinaCast, which provides post-secondary education and e-learning in China, sold shares in the United States on the Nasdaq stock exchange. It was delisted last year for failing to file its 2011 annual report.

The company has been under pressure since ousting former chief executive Ron Chan last year. ChinaCast said at the time that it had uncovered questionable activities and transactions involving Chan that "raise the specter of possible illegal conduct".

Chan could not be reached for comment on Tuesday. In a statement to shareholders last year, he denied allegations of wrongdoing.

ChinaCast assets were transferred to an entity owned by Chan, "a brazen looting" that Deloitte failed to detect, according to the plaintiffs' complaint, which was dated Friday.

"Deloitte put its name and brand behind the certification of financial statements that were almost entirely false," the complaint said.

Deloitte, the world's second-largest accounting and consulting firm, has run into problems with several audits of its China-based clients listing on US exchanges.

A Deloitte spokesman could not immediately be reached for comment.

Deloitte's Shanghai-based affiliate audited ChinaCast's annual reports for the years 2007 until 2010, according to the complaint. The complaint said Deloitte & Touche LLP, the US audit firm, controlled the audit of ChinaCast's financials because one of its partners was a key audit team member for issues involving compliance with US accounting standards.

The plaintiffs include Fir Tree Value Master Fund LP, Columbia Pacific Opportunity Fund LP, Lake Union Capital Fund LP and Ashford Capital Management Inc.

Last May, Deloitte was charged by the US Securities and Exchange Commission on allegations it failed to turn over documents related to its audit of Longtop Financial Technologies Ltd, a China-based software company under investigation for accounting fraud. Deloitte has said that China's state secrets law prevents it from turning over documents.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 国产毛片网站 | 手机在线看片国产日韩生活片 | a高清免费毛片久久 | 欧美成a人免费观看久久 | 亚洲一级毛片 | 四虎免费大片aⅴ入口 | a高清免费毛片久久 | 碰碰碰免费公开在线视频 | 国产成人小视频在线观看 | 自拍国内| 日韩一区三区 | 激情6月丁香婷婷色综合 | 亚洲欧美韩国 | 台湾三级香港三级经典三在线 | 久久久久久综合一区中文字幕 | 黑人黄色毛片 | 日韩高清在线播放不卡 | 最新国产午夜精品视频不卡 | a级片在线免费观看 | 一区二区三区在线 | 网站 | 好吊妞国产欧美日韩视频 | 99久久这里只精品国产免费 | 欧美激情久久久久久久久 | 长腿美女被啪的欲仙欲死视频 | 精品91一区二区三区 | 中文字幕人成乱码在线观看 | 杨幂丝袜国产福利视频 | 国产成人午夜福在线观看 | 国产黄色片一级 | 另类欧美日韩 | 国产精品2019 | 碰碰碰免费公开在线视频 | 亚洲情a成黄在线观看动 | 亚洲欧美精品网站在线观看 | 亚洲人成网站观看在线播放 | 怡红院免费的全部视频国产a | 日本一级毛片在线看 | 国产一区二区在线看 | 91国语精品自产拍在线观看一 | 日本无遮| 高清在线观看自拍视频 |