First Arkansas Bank & Trust v. Gill Elrod Ragon Owen & Sherman, P.A.

l12The majority holds, and First Arkansas readily concedes, that a lawsuit such as this one requires proof of a duty. The majority then correctly concludes that First Arkansas failed to show the Gill firm owed it a duty under the Arkansas Securities Act, an attorney-client relationship, a contract, a negligence theory, or a fiduciary duty.

The majority concludes that the circuit court erred in entering summary judgment on the claims arising under the attorney-malpractice statute, Ark.Code Ann. § 16-22-310, which grants immunity to attorneys from lawsuits brought by persons not in privity with…