The precedent set by the Hochfelder v. Ernst case is generally believed to have increased auditors' legal liability.

Name: The precedent set by the Hochfelder v. Ernst case is generally believed to have increased auditors' legal liability.
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The Hochfelder v. Ernst case actually limited auditors' liability by establishing that scienter, or intent to deceive, manipulate, or defraud, is required for liability under Rule 10b-5 of the Securities Exchange Act.

The Precedent Set by the Hochfelder V