Judge allows lawsuit in Aegean Marine case


A Manhattan federal judge has ruled that Greek affiliates of Deloitte and PricewaterhouseCoopers must face a lawsuit by shareholders of Aegean Marine Petroleum Network Inc seeking to hold them responsible for failing to detect a $300 million fraud against the fuel transport company.

US District Judge Naomi Reice Buchwald said the proposed class action can go forward against the Greek auditors and two former Aegean executives, while dismissing claims against a dozen other defendants including US and international affiliates of the two major accounting firms. [Reuters]