Without affiliates outside America, Andersen might be unable to audit large, international firms.Already, a plaintiff lawyer says, work is proceeding on litigation against Andersen because of questionable revenue figures reported by Global Crossing, a bankrupt telecom firm that was its client.
To proceed to litigation, they argue, might bring on the judicialization of our politics.
He said the ATO believed the bank should pay $100m but instead of proceeding with litigation it negotiated with the company and reached a settlement for $30m.
At the Court of Session in Edinburgh, Lord Bannatyne said that, given the financial circumstances of the community council and the potential cost of litigation, it could not afford to proceed with the action without such an order.
Then there is the free-rider problem: the cost of litigation falls on those that sue, but the proceeds from putbacks flow to all investors.
Yet, as Mr. Finder pointed out, "once the broker does produce a purchaser willing and able to pay that asking price, the seller runs the risk of litigation with the broker if the seller refuses to proceed with the deal".
"After five years of litigation, the court's ruling affirms, as we have always maintained, that this vexatious proceeding against us was entirely baseless and without merit," Peter Nussbaum, general counsel for SAC, said in a statement.
Their efforts have been challenged by the pharmaceutical industry in a barrage of litigation that will determine to what extent this promising approach to curbing drug prices can proceed.
Meanwhile, the high cost of litigation compared to the low likely individual recoveries would make it hard for the women to proceed any other way.
Years of litigation followed.
