In his first interview since Refco's scandal broke a week ago, Edward Nusbaum, the chief executive of the brokerage firm’s outside auditor, Grant Thornton, said the accounting firm has ample resources to withstand the government probes and investor lawsuits it will face as a result of the recent revelations, The Wall Street Journal reported Monday.
"We anticipate the legal costs will be expensive, as they are in every case," Nusbaum said. "But Grant Thornton is very sound financially, and we anticipate any legal costs will be absorbed by the firm. We have insurance, if it is needed."
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