Instrument Systems Corp. v. Whitman, Ransom & Coulson

Plaintiffs move to dismiss defendants’ affirmative defense that this action for attorneys’ malpractice is barred by the three-year Statute of Limitations. The question is when the cause of action accrued.

The alleged negligence of defendants, and particularly defendant Robinson, consisted in preparing, recommending and approving a stock option plan for plaintiff corporation that would be entitled to preferential tax treatment as a “ qualified stock option ’ ’. Plaintiffs allege that the plan failed to qualify under the applicable tax statutes. Defendants’ advice was originally given by letter…