Legal Opinion
Hasbro Bradley, Inc. v. Coopers & Lybrand
Appellate Division of the Supreme Court of the State of New York
Decided May 21, 1987PublishedCited by 5 opinions
1Opinion of the Court
OPINION OF THE COURT
Wallach, J.
This is an action brought by 14 unsecured creditors of Northern Specialty Sales, Inc. (Northern) against Northern’s accountants Coopers & Lybrand (Coopers) for fraud and gross negligence in the preparation of Northern’s certified financial statements for the year 1982 upon which plaintiffs allegedly relied in selling toys and electronic games to Northern on open and unsecured credit of approximately $17.7 million. Northern, a toy wholesaler, subsequently failed, was ultimately adjudicated a bankrupt, with the advances proving uncollectible. On a previous appeal…
2Cases cited12 opinions
- Alvord & Swift v. Stewart M. Muller Construction Co.New York Court of Appeals · 1978
- Lippes v. Atlantic BankAppellate Division of the Supreme Court of the State of New York · 1979
- Martirano Construction Corp. v. Briar Contracting Corp.Appellate Division of the Supreme Court of the State of New York · 1984
- State v. General Motors Corp.New York Supreme Court · 1983
- Bergan v. Home for IncuradlesAppellate Division of the Supreme Court of the State of New York · 1980
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3Cited by5 opinions
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- Morrisania II Associates v. HarveyCivil Court of the City of New York · 1988
- Aetna Casualty & Surety Co. v. Aniero Concrete Co.Court of Appeals for the Second Circuit · 2005
- County of Tioga v. Solid Waste Industries Inc.Appellate Division of the Supreme Court of the State of New York · 1991
- Manshion Joho Center Co. v. Manshion Joho Center, Inc.Appellate Division of the Supreme Court of the State of New York · 2005