Legal Opinion
Stephens Industries, Inc., and Morris Stephens v. Haskins and Sells, Axel Ahlberg, Jack Crane and Arlo M. Hall
Court of Appeals for the Tenth Circuit
Decided March 1, 1971No. 229-70_1PublishedCited by 31 opinions
1Opinion of the Court
HILL, Circuit Judge.
The substantive issues in this appeal involve the liability of public accountants to third parties with whom they are not in privity. Haskins and Sells, an accounting firm, was engaged by two car rental companies to determine the net worth of those businesses by preparing an audited statement. The audit was performed and upon the basis of the figures reflected in the resulting balance sheet, Stephens Industries, Inc. purchased two-thirds of the corporations’ stock. Thereafter, the car rental businesses failed, and now Morris Stephens and Stephens Industries sue the…
2Cases cited6 opinions
- Ultramares Corp. v. ToucheNew York Court of Appeals · 1931
- Ryan v. KanneSupreme Court of Iowa · 1969
- Rusch Factors, Inc. v. LevinDistrict Court, D. Rhode Island · 1968
- Gammel v. Ernst & ErnstSupreme Court of Minnesota · 1955
- Nevin v. HoffmanCourt of Appeals for the Tenth Circuit · 1970
1 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- John W. Brennan v. University of KansasCourt of Appeals for the Tenth Circuit · 1971
- First Fla. Bank, NA v. Max Mitchell & Co.Supreme Court of Florida · 1990
- Adams-Arapahoe Joint School District No. 28-J, Cross-Appellant v. The Continental Insurance Company, a Corporation, Cross-AppelleeCourt of Appeals for the Tenth Circuit · 1989
- Leda Mae Symons v. Mueller CompanyCourt of Appeals for the Tenth Circuit · 1974
- GeoMetWatch v. BehuninCourt of Appeals for the Tenth Circuit · 2022
26 more not listed; retrieve them via the Exa API.