We represented Commercial Union Insurance Company in a former firm against Touche  Ross and Company when Touche Ross was one of the big 8 accounting firms in the country.  In 1986, we obtained the biggest verdict ever in Hinds County, obtaining 1 million actual damages and 500k in punitive holding damages.  The Judgement was reversed on appeal but it made new law in Mississippi that an accounting firm could be held liable to a third party who reasonably relied on their audited financial statements and suffered damages as a result. The only state in the country at that time that followed this standard was California.

Case Opinion