Steward v. Goetz

CRANE, Presiding Judge.

Plaintiff Anne Steward and defendant Clifford Goetz each owned one half of the shares of Crestwood Builders Supply, Inc. (CBS). In December, 1988 they sold CBS for $5,000,000.00. Goetz and Steward were represented by Goetz’s law partner, defendant Leonard Vines, in the transaction. Steward gave the buyers an unconditional guarantee of the accuracy of CBS’s financial statements. In January, 1989 an audit showed actual inventory to be approximately $280,000.00 less than shown on the financial statements which, when combined with other discrepancies in accounts payable and…