MWWPR Sues Their Accounting Firm Marcum LLP Alleging Negligence
2016 has seen multiple lawsuits where MWWPR has been sued for reportedly not paying their bills, clearly a reputational issue for the Michael Kempner owned firm, which consistently ranks as one of the largest companies in the United States public relations arena.
The most recent lawsuit for the firm has seen the New Jersey headquartered firm sue their accounting firm, Marcum LLP claiming in a lawsuit filed June 28th in New York State Supreme Court that the agreements
“for auditing services are void, illegal and unenforceable dueto an un-waivable conflict of interest and lack of independence on the part of Marcum LLP’s Managing Partner, Jeffrey M. Weiner; and (2) damagesfor negligence, accounting malpractice, breach of contract, fraudulent inducement, breach of fiduciary duty, promissory estoppel, unjust enrichmentand/or additional claims arising from Marcum LLP providing MWW Group LLC with audits, from 2011-2014, which were irredeemably tainted,fundamentally unreliable, and in violation of, inter alia, Generally Accepted Accounting Principles, Generally Accepted Auditing Standards, New York Rules of the Board of Regents on Unprofessional Conduct, codified in the New York Codes, Rules and Regulations (“NYCRR”), and The American Institute of CPAs’ Code of Professional Conduct.”
That’s fighting words – and MWW PR (who filed the suit under their legal entity, MWW Group LLC) is seeking more than $5 Million in damages plus legal fees.
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, and according to their website “serves both privately held and publicly traded companies, as well as high net worth individuals, private equity and hedge funds, with a focus on middle-market companies and closely held family businesses.” Michael Kempner in a 2010 press release when Marcum hired MWW PR as their PR firm said “Marcum has been a leader in the accounting industry for nearly 60 years” – for sure he doesn’t feel that way today.
Recent lawsuits for non-payment against MWWPR have included Scholastic, AMP Agency, BDI all of whom claim significantly past due invoices.
Marcum and MWW did not provide comment for this story.