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Jordanian investment firm sues E&Y for covering financial irregularities

Jordanian investment firm Amwal Invest has filed a lawsuit against Ernst & Young (E&Y) alleging the international accounting firm covered up financial irregularities by a former administration, Jordan Times has reported. The Amman-based company is seeking around JD78m ($110m) in damages for thousands of defrauded shareholders, Amwal Invest's chairman, Qasem Newashi, told the daily. The lawsuit is against E&Y headquarters in London, as well its subsidiaries in Amman, New York, Switzerland, Middle East and South Africa, Newashi added.