Florida Jury Deliberates Deloitte Auditing Case
A dispute over whether Deloitte & Touche LLP should be held liable for Florida’s biggest-ever insurance-company collapse is headed toward its conclusion in a Tallahassee, Fla., courtroom.
The Florida Department of Financial Services is suing the Big Four accounting firm, claiming Deloitte was negligent in its audits for a trio of insurance companies that had to be taken over by the state after a string of hurricanes hit Florida a decade ago. The state is seeking up to $850 million in damages. Deloitte denies the regulators’ allegations.