Question: Match the important cases listed below with the appropriate legal

Match the important cases listed below with the appropriate legal precedent or implication.
a. Hochfelder v. Ernst
b. Escott v. BarChris Construction Corp.
c. Credit Alliance v. Arthur Andersen & Co.
d. Ultramares v. Touche & Co.
e. Rosenblum v. Adler
f. Rusch Factors, Inc. v. Levin
g. United States v. Simon (Continental Vending)
1. A landmark case establishing that auditors should be held liable to third parties not in privity of contract for gross negligence, but not for ordinary negligence.
2. A case in which the court used the guidance of the Second Restatement of the Law of Torts to decide the auditors’ liability to third parties under common law.
3. A landmark case in which the auditors were held liable under Section 11 of the Securities Act of 1933.
4. A case in which auditors were held liable for criminal negligence.
5. A case that established that auditors should not be held liable under the Securities Exchange Act of 1934 unless there was intent to deceive.
6. A case that established the precedent that auditors should be held liable under common law for ordinary negligence to all foreseeable third parties.
7. A common law case in which the court held that auditors should be held liable for ordinary negligence only to third parties they know will use the financial statements for a particular purpose.


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  • CreatedOctober 25, 2014
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