DEEPHAVEN PRIVATE PLACEMENT TRADING, LTD v. GRANT THORNTON & CO.

No. 05-4187.

454 F.3d 1168 (2006)

DEEPHAVEN PRIVATE PLACEMENT TRADING, LTD; West End Maccabee Fund, LP; Weti Global Fund, Ltd, Plaintiffs-Appellants, v. GRANT THORNTON & COMPANY, a limited liability partnership, Defendant-Appellee, and Ronald W. Daw; Robert G. Chamberlain; Robert J. Frankenberg; James S. Jardine; Virginia Goregiovale, as individuals; Ellen H. Bates, in her capacity as Personal Representative of the Estate of Charles L. Bates, Jr., Deceased, Defendants.

United States Court of Appeals, Tenth Circuit.

July 21, 2006.


Attorney(s) appearing for the Case

Stephen P. Horvat, (Thomas R. Karrenberg and Scott A. Call, on the briefs), Anderson & Karrenberg, Salt Lake City, UT, for Plaintiffs-Appellants.

Brent O. Hatch, Hatch, Dodge & James, P.C., Salt Lake City, Utah, (and Richard R. Nelson, II, Cohen & Grigsby, P.C., Pittsburgh, PA, on the brief), for Defendants-Appellees.

Before KELLY, TYMKOVICH, Circuit Judges and EAGAN, District Judge.


KELLY, Circuit Judge.

This appeal concerns a claim brought by three institutional investors in Daw Technologies, Inc. (Daw)—Deephaven Private Placement Trading, Ltd., West End Maccabee Fund, L.P., and WETI Global Fund, Ltd (collectively, Investors)—against Daw's former independent auditors, Grant Thornton LLP (Grant Thornton), under Section 18(a) of the Securities Exchange Act of 1934 (Exchange Act), 15 U.S.C. § 78r(a). The district court granted...

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