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Touche Ross and the manager dilimma
Question Description
Is Touche Ross responsible for disclosing the criminal history of one of its principals? If so, how? If no, why? To what extent, if any, must Touche Ross report to the officers, directors, and shareholders of the corporations that served as general partners? Why? Is Touche Ross responsible for reporting a principal who used fraudulent invoices and claims against insurance companies? Why or why not? Is the projection as issued by Touche Ross materially misleading? Why or why not? To what extent, if any, is Touche Ross liable under Section 10(b) to the limited partners?
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