TOP Tankers names new auditors

TOP Tankers names new auditors TOP Tankers said it has appointed Deloitte as independent auditors, replacing Ernst and Young.
   E&Y resigned after a disagreement with the company’s leadership over accounting treatment of certain aspects of the sale and leaseback of 13 vessels that closed in the spring.
   TOP, an operator of crude and product tankers, reported a loss of $11 million in the third quarter. At least eight law firms have filed class action lawsuits on behalf of shareholders.
   The company’s stock price has dropped sharply this year, closing at $4.86 on Tuesday, well off its 52 week high of $18.32.