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StumbleLender replaces auditor
Monday, March 22, 2004 | 11:10 a.m.
Vestin Group Inc. has fired Ernst & Young LLP as its independent auditor.
The Las Vegas commercial lender had previously announced that it would engage Moore, Stephens, Wurth, Frazer & Torbet LLP as independent auditor for its 2004 financials. Moore, Stephens will now audit the company's year-end 2003 financials as well.
Ernst & Young had recently advised Vestin that it would not render its report on the 2003 financial results until the Securities and Exchange Commission completes an informal inquiry into the company.
The company's stock was down 1 cent this morning, trading at $1.95 per share.
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