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Date: 03-01-2002

Case Style: Baptist Foundation of Arizona v. Arthur Andersen, L.L.P., et al.

Case Number: CV2000-015849

Judge: Burke

Court: Superior Court, Maricopa County, Arizona

Plaintiff's Attorney: Lawrence E. Wilk of Jaburg & Wilk, P.C., Phoenix, Arizona

Defendant's Attorney: Don P. Martin of Quarles & Brady Streich Lang LLP, Phoenix, Arizona for Arthur Andersen, L.L.P. and Joshua S. Becker of Kutak Rock, L.L.P., Phoenix, Arizona for David Johnson, et al.

Description: Accounting malpractice claim by trust for Baptist Foundation of America that claimed that Andersen was negligent and breached its fiduciary duties by failing to disclose financial wrongdoing by former trust managers, even after a series of whistleblowers alerted Andersen to the fraud.

Outcome: Arthur Anderse agreed to pay $217 million by April 15, 2002 to settle the claims against it.

Plaintiff's Experts: Unknown

Defendant's Experts: Unknown

Comments: Editor's Note: This was reported to be one of the largest settlements in history by a "Big Five" accounting firm.

E-mail suggested comments and/or corrections to:
Kent Morlan

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