Foley Hoag has an impressive track record of success representing accounting firms in professional liability matters. Representative engagements include:

• Represented national accounting firm and obtained dismissal based on lack of personal jurisdiction of claims arising out of alleged Ponzi scheme orchestrated through investment funds; dismissal affirmed on appeal. Alpha Fund Ltd. v. Grant Thornton LLP, 89 Mass. App. Ct. 718, 54 N.E.3d 570 (2016).
• Represented Big 4 audit firm in confidential arbitration in New York in 2015 arising out of dispute with former client regarding A-133 audit; the arbitration panel issued a unanimous decision in favor of our auditor client on all claims.  That decision was recently confirmed in the New York Supreme Court.
• Represented Big 4 firm in Madoff "feeder fund" action and obtained summary judgment in 2015 dismissing all claims. Askenazy v. Tremont Group Holdings, No. 2010‐4801 (Mass. Super. Ct.).
• Represented national accounting firm as settlement counsel of securities class action in U.S. District Court, Southern District of New York and related actions and government investigations in state and federal court in Illinois, New York and DC.
• Represented Big 4 firm in federal action in Connecticut filed by limited partners of a tax shelter challenging the firm’s review report included in the offering materials used to promote the shelter.
• Regularly represent Big 4 and other accounting firms in SEC proceedings and in responding to SEC subpoenas; currently representing several Big 4 firms in active SEC matters with the Boston, New York and Washington enforcement staff.
• Represented various accounting firms and professionals in proceedings before professional and governmental licensing boards including the PCAOB, the CFA Institute, AICPA and state boards of accountancy.
• Represented Big 4 firm in responding to Puerto Rico legislative committee inquiry concerning the status of the audit of the Commonwealth of Puerto Rico’s financial statements.
• Represented Big 4 consulting firm in responding to Massachusetts Senate Committee on Post Audit and Oversight inquiry and hearings concerning several IT consulting projects performed for the Commonwealth of Massachusetts.
• Represented Big 4 audit firm in connection with expedited mediation of professional negligence and malpractice allegations by former audit client and investigations by federal agencies concerning the firm’s A-133 audits.
• Represented Big 4 consulting firm in connection with False Claims Act investigation brought by Massachusetts Attorney General.
• Represented regional accounting firm in derivative action and obtained summary judgment on substantially all claims in a case involving landmark ruling on scope of work‐product doctrine as applied to communications with, and documents prepared by, accounting firm. Chambers v. Gold Medal Bakery, Inc., 464 Mass. 383 (2013).
• Represented Big 4 firm in tax liability litigation and secured dismissal on motion to dismiss in 2013. Cassidy v. PricewaterhouseCoopers LLP et al. (Mass. Super. Ct.).
• Represented Big 4 firm in securities class action relating to revenue recognition issues for software bug fixes and updates; settled case in 2015 for one of the lowest settlement amounts ever in a federal securities class action. Courtney and Washtenaw County Employees Retirement System v. Avid Technology, Inc., et al., No. 13‐10686‐WGY (D. Mass.).
• Represented a national accounting firm and obtained defense verdict on all claims after 3 1/2-week jury trial in July 2012 in an action alleging malpractice and misrepresentation in connection with the accounting for municipal bond financing.
• Obtained dismissal of constructive trust and Credit Repair Organization Act claims brought by a class of consumers of a non-profit credit repair organization against a national accounting firm which served as the non-profit’s former tax advisor and auditor, and handled appeal in which First Circuit affirmed dismissal, Zimmerman v. BDO LLP, 657 F.3d 80 (1st Cir. 2011).
• Representing Canadian affiliate of Big 4 firm in federal actions arising out of tax advice provided to Canadian subsidiary of U.S. corporation, and related investigations by Canadian tax authorities.
• Defended Bermuda affiliate of Big 4 accounting firm in malpractice action in Maine Superior Court and Israeli affiliate of Big 4 firm in SEC matter.
• Represented regional accounting firm partner in Delaware Chancery Court appraisal action. Owen v. Cannon, 2015 Del. Ch. LEXIS 165 (June 17, 2015).
• Defended a Big Four firm and obtained summary judgment dismissing a hedge fund’s claim of fraud, negligent misrepresentation and c. 93A on grounds that the hedge fund did not rely on client’s audit opinion in making mezzanine loan to a financially troubled company. Summary judgment decision and related decision striking “settlement affidavit,” reported at 19 Mass. L. Rep. 51 and 19 Mass. L. Rep. 26 (2005) and an Appeals Court decision affirming summary judgment reported Imprimis v. KPMG Peat Marwick LLP, 69 Mass. App. Ct. 218 (2007).
• Obtained immediate dismissal of claims against a national accounting firm for alleged negligent failure to detect bank employee embezzlement in state court action in Pennsylvania.
• Obtained dismissal of all claims against a national accounting firm in a securities class action alleging securities fraud in connection with a large REIT’s write down of mortgage derivative assets during the credit crisis. In re RAIT Securities Litigation, E.D.PA, 2009.
• Represented a Big Four firm in a suit brought by a multi-generational family office arising out of the COO’s defalcation and alleged conversion of investment opportunities.
• Represented a Big Four accounting firm in MDL federal securities class action, In re Tyco International Ltd., and related SEC investigation, state investigation and derivative action.
• Represented a Big Four accounting firm in a state action brought by a bank syndicate providing a revolving credit line to a healthcare equipment company securitizing collateralized debt obligations.