A brief excerpt from the memorandum and order by Chief United States District Judge Keith Watkins:

The Federal Deposit Insurance Corporation (“FDIC”) stepped in as receiver for Colonial upon its failure. In its capacity as receiver for Colonial, the FDIC has brought suit against two accounting firms hired by BancGroup to audit the Bank, alleging that the audit should have revealed the fraud that led to the Bank’s ultimate demise.1 Defendants PricewaterhouseCoopers LLP (“PwC”) and Crowe Horwath LLP (“Crowe”) each moved to dismiss (Docs. # 21, 22), and after briefing (Docs. # 21, 23, 32–35, 40, 46), the motions are ripe for resolution. The motions are ripe for resolution. The motions are due to be denied....