Short Answer:

1. Shell oil sold pesticides to B&B, which allowed these chemicals to leak into the ground. Shell was aware that the leaks were occurring. B&B ultimately went bankrupt. Is Shell liable for the costs of cleaning up this site? Under what law?

2. Should the IFRS be adopted in the United States? What result would be best for companies? For investors?

3. Under the 1934 Act, accountants are only liable if they act with scienter. Make an argument that they should be liable for negligence. What do you think is the right standard?

Provide references.