High Court Won’t Hear Case On Liability For Company’s Financial Statements

( May 18, 2026, 2:10 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on May 18 denied investors’ petition for a writ of certiorari asking the court to determine when an independent accountant can be found liable under Section 11 of the Securities Act of 1933 for a company’s financial statements; a Fifth Circuit U.S. Court of Appeals panel had dismissed the investors’ case against a fuel-cell server manufacturer’s outside accounting, finding that the accountant was not liable under the statute....