A savvy investor was reviewing her investment account statements. She was angry that she had suffered losses due to the collapse of the Live Entertainment Corporation of Canada Inc. (Livent). The investor was a long time investor and prided herself on investing a portion of her income on a regular basis. She was able to read and interpret financial statements intelligently. In 1996, after reviewing Livent’s audited financial statements, the investor .....more

A savvy investor had incurred investment losses due to what she thought were false or misleading statements in the financial statements of Live Entertainment Corporation of Canada Inc. (Livent). The investor did not think she would be able to recover her losses by suing Livent. She wondered if she should consider suing the auditors who prepared the financial statements. This is a supplement to Auditor Liability in Canada (A).