Legal Opinion
Nycal Corp. v. KPMG Peat Marwick LLP
Massachusetts Supreme Judicial Court
Decided January 16, 1998PublishedCited by 81 opinions
1Opinion of the CourtGreaney, J.
On May 24, 1991, the plaintiff, allegedly in reliance on an auditors’ report of the 1990 financial statements of *492Gulf Resources & Chemical Corporation (Gulf) prepared by the defendant, entered into a stock purchase agreement with the controlling shareholders of Gulf and, on July 12, 1991, the sale was completed. Gulf filed for bankruptcy protection in October, 1993, rendering the plaintiff’s investment worthless. The plaintiff filed a civil complaint against the defendant seeking damages and costs incurred as a result of its alleged reliance on the auditors’ report. The plaintiff claimed that…
2Cases cited21 opinions
- Palsgraf v. Long Island R.R. Co.New York Court of Appeals · 1928
- Ultramares Corp. v. ToucheNew York Court of Appeals · 1931
- Bily v. Arthur Young & Co.California Supreme Court · 1992
- H. Rosenblum, Inc. v. AdlerSupreme Court of New Jersey · 1983
- Rae v. Air-Speed, Inc.Massachusetts Supreme Judicial Court · 1982
16 more not listed; retrieve them via the Exa API.
3Cited by81 opinions
- Massachusetts School of Law at Andover, Inc. v. American Bar Ass'nCourt of Appeals for the First Circuit · 1998
- Ackerman v. Price WaterhouseAppellate Division of the Supreme Court of the State of New York · 1998
- Cumis Insurance Society, Inc. v. BJ's Wholesale Club, Inc.Massachusetts Supreme Judicial Court · 2009
- Demoulas v. DemoulasMassachusetts Supreme Judicial Court · 1998
- Walpert, Smullian & Blumenthal, P.A. v. KatzCourt of Appeals of Maryland · 2000
76 more not listed; retrieve them via the Exa API.