McAdams v. McCord
Court of Appeals for the Eighth Circuit
1Opinion of the Court
BENTON, Circuit Judge.
UCAP, Inc. was a multi-state provider of mortgage lending and brokerage services. In April 2004, UCAP announced that it believed it would have to restate its financial statements for the periods ending September 30, 2002; December 30, 2002; and March 31, 2003. Six months later, UCAP’s wholly-owned, principal operating subsidiary filed for Chapter 11 bankruptcy. UCAP soon ceased operations, and its stock was delisted in 2005.
Joseph McAdams, Florian Homin', Richard P. Smyth, and their affiliated companies sued several UCAP executives and Moore Stephens Frost, PLC — UCAP’s…
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