National Surety Corp. v. Lybrand
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtUntermyer, J.
The plaintiff surety company maintains this action against three firms of certified public accountants for their failure to discover and report substantial cash shortages after auditing and examining the books and accounts of Halle & Stieglitz, members of the New York Stock Exchange. One Wallach, cashier in the main office of Halle & Stieglitz, confessed on May 2,1934, to defalcations over a period of years aggregating $329,300. The plaintiff, surety on a fidelity bond, paid the loss to Halle & Stieglitz and now sues as its assignee.
During the period involved Halle & Stieglitz maintained…
2Cases cited6 opinions
- Critten v. Chemical National BankNew York Court of Appeals · 1902
- State Street Trust Co. v. ErnstNew York Court of Appeals · 1938
- Kowalsky v. Conreco CompanyNew York Court of Appeals · 1934
- Craig v. AnyonAppellate Division of the Supreme Court of the State of New York · 1925
- Smith v. London Assurance Corp.Appellate Division of the Supreme Court of the State of New York · 1905
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3Cited by56 opinions
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- Standard Chartered PLC v. Price WaterhouseCourt of Appeals of Arizona · 1997
- Comeau v. RuppDistrict Court, D. Kansas · 1992
- Lincoln Grain, Inc. v. Coopers & LybrandNebraska Supreme Court · 1984
- Federal Insurance v. Arthur Andersen & Co.New York Court of Appeals · 1990
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