Financial and accounting professionals’ relationships with their clients are supposed to be based on trust and confidence. Clients give their consent to have these professionals act on their behalf, making them vulnerable. The law provides protection for clients to protect them from careless or unscrupulous professionals.
Sometimes financial and accounting professionals—such as financial advisors, CPAs, auditors, officers and/or directors investigate—review and/or approve investments which turn out to be bad or even fraudulent. These individuals have a duty to the investing public to conduct reasonable due diligence before disseminating information to the public. If these professionals disseminate false information, they can be liable to investors.
Call the attorneys at ChapmanAlbin if you have lost money because you relied upon false information provided by a financial or accounting professional.