Kemin Industries, Inc. v. KPMG Peat Marwick LLP

CARTER, Justice.

KPMG Peat Marwick (Peat Marwick), a public accounting firm, appeals from a $2.95 million money judgment entered against it in an action brought by its client, Kemin Industries, Inc. (Kemin). As grounds for reversal, Peat Marwick contends that (1) those responsible for Kemin’s financial affairs had knowledge of the items that it claims Peat Marwick failed to uncover-in its audit; (2) the district court applied an improper standard of care in ruling on Peat Marwick’s motion for directed verdict and in its instructions to the jury; (3) Kemin’s evidence failed as a matter of law…