A Boston-based investment fund has received the go-ahead from a state court in Virginia to move ahead with a $51 million lawsuit against accounting firm Goodman & Co. LLP.

The Fairfax County Circuit Court of Virginia denied the second motion filed by Goodman to dismiss the lawsuit yesterday, meaning that the case will now move into discovery. The fund, Costa Brava Partnership III LP, has accused the Norfolk, Va.-based accounting firm of delivering an inaccurate audit opinion on the 2004 annual report of communications company of Ashburn, Va.’s Telos Corp.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access