10 Feb 2010
MOULIN GLOBAL EYECARE HOLDINGS LTD AND OTHERS v. KPMG (a firm)
- Citation
- MOULIN GLOBAL EYECARE HOLDINGS LTD AND OTHERS v. KPMG (a firm)
- Court
- Court of First Instance
- Case number
- HCA118/2007
The court held that restated financial statements and particulars identifying off-balance-sheet trade finance liabilities and overstated cash balances are material facts necessary to establish loss and causation and must be provided as particulars; the plaintiffs must also specify any additional executive management alleged to have been involved in fraud and any further forms of fraud beyond the pleaded descriptions. Discovery requests for Ernst & Young working papers and documents relating to loans and proceedings outside the period in which the defendants were auditors were refused as dispr…