The in pari delicto defense has been recognized, as has the adverse interest exception.
FORBES: A Tale of Two Lawsuits -- PricewaterhouseCoopers and Colonial Bank
The in pari delicto doctrine is based on common law agency principles.
FORBES: FDIC Makes A Case Against Auditors For Bank Failures
The recent New York State Court of Appeals in pari delicto decision will make those claims more difficult to pursue.
FORBES: The Bankruptcy Examiner's Report: Shining A Bright Light On Auditor Failure
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