Ernst & Young Wins Dismissal of Brooge Auditor Fraud Lawsuit

Ernst & Young and related entities escaped a lawsuit related to their auditing work for Brooge Petroleum and Gas Investment Company FZE on Tuesday.

Most of the claims the investors made were time-barred and the remaining allegations failed to meet the heightened pleading standards for securities fraud cases, Judge P. Kevin Castel said in an opinion and order. The US District Court for the Southern District of New York granted Ernst & Young’s motion to dismiss.

“The court concludes that the Complaint does not allege with particularity that Ernst & Young knew or was reckless in not knowing that ...