Litigation Pleading Standards
AICPA Position Congress is considering the Notice Pleading Restoration Act, S. 1504, introduced by Senator Arlen Specter, a Pennsylvania Democrat, and Open Access to Courts Act, H.R. 4115, introduced by Representative Jerrold Nadler, a New York
Published on March 02, 2010
Aiding and Abetting Liability
The AICPA supports leaving the enforcement for aiding and abetting with the SEC, not outsourcing the enforcement to plaintiff’s lawyers.
Published on September 24, 2012
AICPA Amicus Brief Asks U.S. Supreme Court to Overrule Securities Litigation Case
...Advocate: March, 2014. The U.S. Supreme Court heard oral arguments on the Halliburton case on March 5, 2014, which is regarded as one of the most important securities litigation cases in years. A decision by the Court is expected by June 2014
Published on March 27, 2014
Tellabs Inc. v. Makor Issues & Rights, Ltd.
The present case concerns the pleadings standards established by the Private Securities Litigation Reform Act of 1995 (PSLRA). In the PSLRA, Congress required securities-fraud plaintiffs to plead particularized facts leading to a "strong inference" that each defendant acted, or failed to...
Published on April 14, 2010
American Bar Association vs. Federal Trade Commission
The AICPA has a direct interest in the outcome of this litigation. The AICPA’s members, like attorneys, are engaged in a professional practice. Also, like attorneys, certified public accountants typically engage in invoiced billing of their clients, allowing their clients...
Published on September 30, 2010
Extraterritorial Private Rights of Action, also known as F-Cubed Litigation
The accounting profession believes private litigants may utilize U.S. securities laws within the territorial jurisdiction of the U.S. and that the United States Supreme Court decision in Morrison v. National Australia Bank, Ltd. is the correct reading of the Securities Exchange Act of 1934.
Published on April 03, 2013
House and Senate Bills to Curb Patent Trolls Include AICPA Recommendations
...5, 2013, by an overwhelming vote of 325-91. The Senate Judiciary Committee, meanwhile, held a hearing on comparable legislation, on December 17. These bills would help curtail abusive litigation in the patent system
Published on January 30, 2014
IRSs Proposed Voluntary Program for Tax Preparers is Unlawful and Improper, Says AICPA
...IRS's proposed voluntary certification program for tax return preparers “would cause significant legal problems that may ultimately frustrate the IRS’s goals, confuse the public, and lead to litigation
Published on June 24, 2014
AICPA Supports State Tax Tribunal Model Legislation
The CPA Advocate: August, 2012. The AICPA supports model legislation as a resource for state CPA societies whose legislatures are interested in creating or modifying an independent state tax tribunal.
Published on August 17, 2012
AICPA Encourages Advisory Committee to Address Overbroad Discovery Requests in Federal Civil Procedure
The CPA Advocate: May, 2014. The AICPA said proposed revisions to the Federal Rules of Civil Procedure are a “much-needed step” because of “overbroad discovery requests and wasteful date-preservation policies.”
Published on May 22, 2014