JACOBSON v. PEAT, MARWICK, MITCHELL & CO.

No. 77 Civ. 108 (HFW).

445 F.Supp. 518 (1977)

Hans JACOBSON, on behalf of himself, Individually, and representatively on behalf of all other shareholders of the Walter Reade Organization, Inc., similarly situated, Plaintiffs, v. PEAT, MARWICK, MITCHELL & CO., a partnership, Sheldon Gunsberg, E. L. Schuman, C. W. Preuster, Albert Floersheimer, T. D. Carroll, C. F. Simonelli, A. D. Emil, W. C. MacMillen, F. A. Augsbury, Jr., Samuel Hoffman, Milton Koffman, Dolly M. Reade and the Walter Reade Organization, Inc., Defendants.

United States District Court, S. D. New York.

August 18, 1977.


Attorney(s) appearing for the Case

Tenzer, Greenblatt, Fallon & Kaplan, New York City, for plaintiffs; Stacy L. Wallach, New York City, of counsel.

Cahill, Gordon & Reindel, New York City, for Peat, Marwick, Mitchell & Co.; H. Richard Schumacher, Joseph W. Muccia, New York City, of counsel.

Burke, Burke, Daniels, Leighton & Reid, New York City, for Augsbury.


OPINION

WERKER, District Judge.

In this securities class action arising out of the failure of the Walter Reade Organization, Inc. ("Reade"),1 defendant Peat, Marwick, Mitchell & Co. ("PMM"), a partnership of certified public accountants which served as the independent auditor for Reade, moves to dismiss the complaint brought against it by Hans Jacobson (the "plaintiff") for failure to allege fraud with the degree of particularity...

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