Condo Association: Can I sue the board and the accounting firm for being stupid?
Can I sue the Board members for this mistake and will the D & O insurance cover this mistake? If what the Board says is true, can I also sue the accounting firm.
1 attorney answer
It does sound like the association may well have a cause of action against the accounting firm. However, if the Board was reasonable in relying on the accounting firm, and so not negligent, it is doubtful that the Board's E&O insurance would be on the hook.