A group of investors Wednesday sued the accounting giant Ernst & Young for allegedly misrepresenting the financial status of the defunct hedge fund Parkcentral Global after they lost a total of $17 million in the fund.

The lawsuit was filed in the Harris County District Court on Thursday on behalf of Houston financial consultant Gus Comiskey and four Tucson, Ariz-based entities including the Thomas R. Brown Family Private Foundation. The investors are suing Ernst & Young for alleged accounting fraud, negligent misrepresentation, securities fraud and conspiracy to commit fraud.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access