Lawyers still sorting out the bankruptcy of a Florida financial services company, E.S. Bankest, filed a suit against McGladrey & Pullen for alleged violation of federal securities law and malpractice.

Lawyers speaking for the federal court-appointed E.S. Bankest officer, forensic accountant Lewis B. Freeman, wrote in their filing that the accounting firm hid the truth from investors and lied to the Securities and Exchange Commission about its reasons for resigning as auditor for Stratesec, a company that provided airport and office security services, before filing for bankruptcy protection in April 2004. Bankest was an investor in Stratesec.

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