David Greising
August 4, 2009
Huron's financial restatements will be central to the unfolding fracas. Yet Huron helped promote litigation lawyer Chicago by delivering periodic estimates of losses experienced by shareholders due to earnings restatements. A 2006 study for the Government Accountability Office put the cost in the billions of dollars.
Now, Huron faces its own restatement costs, the most prominent likely damage inflicted on this once-promising firm.
One analyst, Daniel Leben of Robert Baird & Co., in a Monday research report cited "legitimate worries" about Huron's ability to survive as a going concern. That dire language, though perhaps premature, is the same alarmist syntax analysts used after Andersen first faced its Enron troubles.
