Washington (Dec. 17, 2002) -- The Supreme Court rejected an appeal by former Big Five firm Andersen to have the high court intervene in a class-action shareholder suit.According to Dow Jones, the High Court vetoed Andersen’s appeal to dismiss the suit on the grounds that the statute of limitations had expired on litigation filed by investors of a failed New Jersey shoe import concern.
Jasmine Ltd., which is now in liquidation, had gone public in late 1993. But two years later, the company found itself the subject of lawsuits by shareholders alleging that company officers had lied about the health of the company.
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