TORO CO. v. KROUSE, KERN & CO., INC.

No. 86-2800.

827 F.2d 155 (1987)

The TORO COMPANY, a Minnesota Corporation and Toro Credit Company, a Minnesota Corporation, Plaintiffs-Appellants, v. KROUSE, KERN & COMPANY, INC., F. Paul Kauffman, and John Doe, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided August 19, 1987.


Attorney(s) appearing for the Case

Edward F. Fox, Doherty Rumble & Butler, Minneapolis, Minn., for plaintiffs-appellants.

David Baugh, Karon, Morrison & Savikas, Ltd., Chicago, Ill., for defendants-appellees.

Before WOOD, COFFEY, and RIPPLE, Circuit Judges.


RIPPLE, Circuit Judge.

In this diversity case, we are asked to review the judgment of the district court which held that the defendant accounting firm and individual accountants were not liable for alleged negligence to the plaintiff corporations, third parties who allegedly relied upon the reports of the accountants in extending credit to the accountants' client. For the reasons set forth in the following opinion, we affirm the judgment of the district court.

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