January 21, 2025
We knew it was only a matter of time before someone filed a class action lawsuit against BDO USA for all that ESOP stuff. Pretty much ever since the secret partner meeting happened back in 2023 we’ve heard from countless current and former partners saying “Gee I wish someone would sue the shit out of BDO” (paraphrasing) for everything related to BDO’s deal with Apollo and the ESOP.
Here’s a transcript of just one such voicemail we received a few months back:
I’m a current member of BDO, a partner or now principal as we’re called. I read your article on Going Concern, there’s a lot of good information there. I’d love to see a class action suit by the former partners. Unfortunately I’m a current partner so I’m not willing to start something like that, but we would love to see that, there’s been a lot of discussions that we’re hoping some partners who have left would do that because of a lot of the things that you mentioned in the article.
Well buddy, it’s your lucky day.
On January 17, Tristin Taylor — who is listed as a current employee of the firm in the lawsuit — filed a class action complaint against BDO in United States District Court for the District of Massachusetts Eastern Division alleging various naughtiness related to the ESOP.
. . .
The plaintiff retained counsel from Cohen Milstein Sellers & Toll PLLC who can be reached via this contact form or hit them up at these emails:
myau@cohenmilstein.com
dsutter@cohemilstein.com
rwheeler@cohenmilstein.com
cbressman@cohenmilstein.com
Read BDO Gets Accused of Inflating Revenue Ahead of the ESOP Again, This Time in a Class Action Lawsuit.