The representation of accountants, lawyers, and other professionals is a significant area of our practice. We understand and appreciate the personal nature of the action, and welcome our clients' comments and suggestions in creating and executing case strategy. This philosophy has proven to be successful in our expedient disposition of professional liability matters.
We have represented professionals in thousands of lawsuits filed in both state and federal court, as well as numerous adversary actions filed in bankruptcy court. We also frequently appear before the Courts of Appeal and Supreme Court in professional liability matters, prosecuting or defending civil appeals, petitions for extraordinary relief, and appellate motions.
Our emphasis in professional liability cases is to aggressively attack whenever possible, to eliminate all or part of claims that have been asserted and leave as little as possible to be tried, arbitrated, or mediated. Indeed, the relatively small amount of professional liability cases that ultimately proceed to trial is attributable to our outstanding success at early disposition through aggressive law and motion.
Representation of Accountants in Litigation, Regulatory, and Discovery Matters
Chapman Glucksman is the accountant's legal counsel. We represent firms of all sizes, including some of the largest regional accounting firms and their personnel, in matters touching upon virtually every aspect of the accounting profession.
In an environment of ever increasing regulation and monitoring of financial reporting, our experienced team of lawyers brings extensive knowledge of generally accepted accounting principles (GAAP ), generally accepted auditing standards (GAAS) , and overall operations and services rendered by public accounting firms to zealously defend our clients in litigation or regulatory proceedings that often arise. We are proficient in federal and state securities and other laws applicable to such litigation and regulatory matters.
Litigation
Our litigators have extensive experience representing accounting firms in litigation brought by clients, investors, financial institutions and other third parties, among others. We have successfully defended accounting firms in suits with myriad causes of action including for negligence, fraud, breach of contract, negligent misrepresentation, breach of fiduciary duty, and aiding and abetting or conspiracy. We also have considerable experience in the representation of business managers and are sensitive to the unique issues which can arise from the performance of these broad ranging services. Effective defense of an accounting firm when such claims are alleged requires the accounting firm's lawyer to understand not only the applicable law, but also the accounting principles and standards that govern the industry. Chapman Glucksman attorneys have this knowledge and are able to efficiently and cost-effectively represent our clients which frequently leads to very favorable results.
Regulatory Investigations
With the passage of the Sarbanes-Oxley Act of 2002 and heightened scrutiny by accounting regulatory bodies including Boards of Accountancy, the SEC and the PCAOB, public accounting firms are often faced with the difficult challenge of responding to regulatory inquiries . Our attorneys have first-hand knowledge of the broad investigative and disciplinary authority over public accounting firms and associated persons exercised by these regulatory bodies and have successfully navigated our clients through the uncertainty and complexity of such regulatory investigations.
When accounting firms or their personnel are the targets of regulatory investigations, we have the experience to successfully assist in traversing the complex regulatory landscape, and to negotiate appropriate resolutions with regulatory bodies . We have represented accounting firms and individuals in investigations and enforcement proceedings by the AICPA, SEC, the PCAOB, various state boards of accountancy and other state regulatory bodies.
Subpoenas, Depositions and Document Productions
Responding to discovery requests from regulatory investigators or parties to litigation often present unique challenges and for the unwary professional and can present potential exposure to unseen legal or regulatory action. These matters also present unique considerations related to client confidentiality which requires an in-depth knowledge of the professional obligations of the accounting firm and how those obligations interplay with the legal process. Our lawyers are extremely effective in assisting our client in assessing the sensitivity of such requests, including including subpoenas or other requests for documents and deposition or trial testimony and managing formal and informal discovery requests by private party litigants, government agencies, regulatory bodies, and bankruptcy trustees,.
Legal Malpractice
We handle actions involving alleged legal malpractice, as well as corollary claims of malicious prosecution and abuse of process. The cases and issues are as expansive as the law itself, and include actions arising from myriad underlying disputes, transactions, or lawsuits.
We understand the financial and emotional costs of defending malpractice cases, especially in the presence of the deductible feature in most professional liability insurance policies. We therefore actively solicit our clients' involvement and interaction in the defense process, so they can participate in decisions concerning case handling and disposition.
