Brown v. Felkel

Howell, Chief Judge:

This case arises out of a professional negligence claim. James L. Brown alleged Dal H. Felkel and Dal H. Felkel & Associates (DFA), Brown’s accountants, breached their fiduciary duties to Brown, and were grossly negligent in promoting his investment in Southern Agricultural Chemicals, Inc. and failing to warn him of Southern Agricultural’s financial problems. A jury awarded Brown $240,625.00 actual damages and $255,000.00 punitive damages. We reverse.

DFA began handling Brown’s personal and business accounts in the 1960s. In 1973, DFA advised Brown about certain investments…