Vermont DFR Sues Crowe Over
Global Hawk Audit Work

The Vermont Department of Financial Regulation (Vermont DFR) has filed a lawsuit against Crowe, LLP for audit reports it produced for the now insolvent Global Hawk Insurance Company Risk Retention Group (Global Hawk). The complaint includes claims of alleged negligence, negligent misrepresentation, and breach of contract for the years` ranging from 2016 to 2018.

The complaint was initially filed by Michael S. Pieciak, in his official capacity as Commissioner of the Vermont DFR, solely as the Liquidator of Global Hawk. Kevin Gaffney took over as Commissioner in May 2022 following Pieciak’ s departure to run for state treasurer.

The complaint was filed in October 2021 in the Vermont Superior Court, Washington Unit. Crowe moved the matter to the United States District Court for the District of Vermont in November 2021.
The Vermont DFR was unable to comment on ongoing litigation.

Crowe is a multinational professional services company that provides audit, tax, and consulting services, among others. According to the complaint, Global Hawk engaged Crowe to audit its financial statements from 2016 to 2018. Crowe did not respond to requests for comment.

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