American Bank & Trust Co. v. Ritter, Todd & Haayen

STRANAHAN, Judge:

In March and July of 1966, Ritter, Todd and Haayen, an accounting partnership, submitted to J. H. Greiner Company two audit reports.

In January and February of 1967 the Greiner Company applied for and received $300,000 in loans from American Bank and Trust Co. of Pennsylvania.

Later in 1967 the Greiner Company declared bankruptcy and the Bank alleges a loss of $130,521.90 plus interest.

On January 15, 1973 the Bank commenced, by writ of summons, an action in Trespass and Assumpsit against the Accountants. The basis of this action is that the Bank relied on the Accountants’ audit…