Legal Opinion
Axel Johnson, Inc. v. Arthur Andersen & Co.
District Court, S.D. New York
Decided April 30, 1991No. 89 Civ. 6490(MEL)PublishedCited by 6 opinions
1Opinion of the Court
LASKER, District Judge.
Axel Johnson Inc. (“Johnson”) alleges that Arthur Andersen & Co. (“Andersen”) in 1982 knowingly or recklessly conducted an inadequate audit of a company known as Industrial Tectonics, Inc. (“ITI”), and that Johnson detrimentally relied on that audit when it acquired ITI in that year. Johnson contends that Andersen’s conduct violated Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) (1988), as well as various provisions of state law.
Andersen moves to dismiss the 10b-5 claim for failure to plead fraud with the particularity required by Fed.R.Civ.P.…
2Cases cited9 opinions
- Chevron Oil Co. v. HusonSupreme Court of the United States · 1971
- Cosmas v. HassettCourt of Appeals for the Second Circuit · 1989
- Welch III v. Cadre CapitalCourt of Appeals for the Second Circuit · 1991
- Goldman v. McMahan, Brafman, Morgan & Co.District Court, S.D. New York · 1989
- Jordan v. Madison Leasing Co.District Court, S.D. New York · 1984
4 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Securities & Exchange Commission v. WaterhouseDistrict Court, S.D. New York · 1992
- In Re Oxford Health Plans, Inc., Securities LitigationDistrict Court, S.D. New York · 1999
- In Re Leslie Fay Companies, Inc. Securities LitigationDistrict Court, S.D. New York · 1993
- Duke v. Touche Ross & Co.District Court, S.D. New York · 1991
- Axel Johnson, Inc. v. Arthur Andersen & Co.District Court, S.D. New York · 1992
1 more not listed; retrieve them via the Exa API.