New York (May 22, 2003) -- As the stock market tanked, claims against CPAs rendering investment advice soared, an attorney warned accountants attending a Broker/Dealer Conference here this week.
“When clients lose money, they sue. You can be sued, your partners can be sued, and your firm can be sued if you render investment advice,” Howard S. Eilen, partner with Lehman & Eilen in Uniondale, N.Y., warned attendees at Tuesday’s conference, sponsored by the New York CPA Society's Foundation for Accounting Education. “Claims are being filed at a record pace…customers are winning.”
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