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Berlin were representing the accounting firm in a West
Virginia lawsuit at the time. The assertion was also made that Ernst and Young assigned junior personnel who gave incompetent advise. At the time of the settlement, experts comment it to be the first case to assign liability of a consultant brought in to manage the turnaround of a bankrupt company being held liable for its failure.
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alleged the accounting firm of duplicity and bad advice while providing turnaround accounting services. The lawsuit accused Ernst and Young of concealing its relationship with
Washington D.C. law firm Swidler and Berlin, which had recommended Ernst and Young as the turnaround adviser. Swidler and
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Ernst and Young admitted no wrongdoing and "believes other parties bear substantial responsibility for the failure of Merry-Go-Round to survive. The firm will look to these parties for contribution to the settlement."
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Lead attorneys Snyder, Weltchek, Weiner, and
Vogelstein argued the firm "violated the standard of care", a tenet applied from
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cases they had experience. This argument is akin to a doctor's error in a medical malpractice lawsuit.
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Merry-Go-Round filed a
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69:$ 135 million of the settlement was covered by insurance, according to Ernst and Young.
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that resulted in the largest single defendant settlement in
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Kathleen O'Farrall
Friedman - Baltimore Circuit Court Judge
156:"Bankrupt Merry-Go-Round Decides to Go Out of Business"
125:"Weltchek Mallahan & Weltchek - Ernst & Young"
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Deborah Hunt Devan - Bankruptcy trustee, filed lawsuit
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William "Billy" H. Murphy, Jr. - Attorney, Plaintiff
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131:. Weltchek Mallahan & Weltchek. Archived from
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81:Stephen L. Snyder - Senior Partner, Plaintiff
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154:Steinhauer, Jennifer (February 3, 1996).
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84:Robert J. Weltchek - Partner, Plaintiff
96:Larry S. Gibson - Attorney, Plaintiff
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327:1998 in United States case law
271:Devan v. Ernst & Young LLP
41:Filed in 1998, the case named
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73:Important figures in the case
25:City Circuit Court against
21:is a 1998 lawsuit filed in
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291:National Equality Standard
46:Merry-Go-Round Enterprises
224:Clarkson Gordon & Co
48:v. Ernst & Young LLP
18:Devan v. Ernst and Young
322:Maryland state case law
90:- Partner, Plaintiff
60:medical malpractice
296:One Kennedy Square
161:The New York Times
317:Ernst & Young
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210:Ernst & Young
135:on March 24, 2012
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165:. Retrieved
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137:. Retrieved
133:the original
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311:Categories
104:References
286:ITEM club
33:history.
23:Baltimore
281:EY Plaza
31:Maryland
264:Related
37:History
238:People
169:2013
141:2013
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112:^
202:e
195:t
188:v
171:.
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