• Suraj Srinivasan


The Changing Landscape of Auditor Liability. Suraj Srinivasan, March 1, 2018, Paper, "We document the declining role of Rule 10b-5 (a general catch-all antifraud provision) in securities class-action lawsuits against auditors since the passage of the PSLRA. The decline is perhaps most noticeable in dismissal rates, which increased monotonically over each three-year period from 1996 to 2013. Further, the likelihood that an auditor will be sued following a severe restatement has significantly declined, and settlements have decreased. One explanation for this trend is the recent wave of Supreme Court cases limiting the scope of Rule 10b-5 against private actors." Link