Sunshine Mining and Refining Company v. Ernst & Young, L.L.P.

Opinion

W.G. ARNOT, III, Chief Justice.

This appeal arises from a suit filed by a publicly-traded mining company against its former independent auditing firm. Sunshine Mining and Refining Company (Sunshine) has mined silver and other minerals for many years, primarily from the Sunshine Mine located in Idaho. Prior to 1999, Sunshine had not reported a profit in the previous 10 years as a result of depressed silver prices. Sunshine’s net losses for 1994 to 1998 were $4,900,000, $15,500,000, $25,900,000, $19,300,000, and $64,800,000, respectively. 1 Sunshine remained in business during this period…