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ADAMS v. STANDARD KNITTING MILLS, INC.

Nos. 78-1111, 78-1112.

623 F.2d 422 (1980)

Mary Lillian ADAMS, in her own name and on behalf of all other persons similarly situated, Plaintiffs-Appellees, Barry J. McKean, et al., Paul W. Mankin, et al., Intervenors-Appellees, v. STANDARD KNITTING MILLS, INC., et al., Defendants, Peat, Marwick, Mitchell and Company, Defendant-Appellant.

United States Court of Appeals, Sixth Circuit.

Decided May 2, 1980.

Rehearing and Rehearing Denied July 23, 1980.

Attorney(s) appearing for the Case

William E. Hegarty, Allen S. Joslyn, New York City, Donald F. Paine, Egerton, McAfee, Armistead & Davis, Knoxville, Tenn., for appellant in both cases.

John M. Sikes, Jr., Zusman, Sikes, Prichard & Cohn, Atlanta, Ga., Milton J. Wallace, Wallace & Breslow, Miami, Fla., for Adams in both cases.

Leon Jourolmon, Portland, Or., for McKean in both cases.

Charles E. Rader, Knoxville, Tenn., for Mankin in both cases.

Kenneth J. Bialkin, Louis A. Craco, Lawrence O. Kamin, New York City, for amicus curiae—American Institute of Certified Public Accountants in both cases.

Cahill, Gordon & Rindal, New York City, for appellant in 78-1112.

Before WEICK, ENGEL and MERRITT, Circuit Judges.

Rehearing and Rehearing En Banc Denied July 23, 1980.

MERRITT, Circuit Judge.

In this securities fraud case, Peat, Marwick, Mitchell & Co., herein referred to as "Peat," a firm of certified public accountants, appeals from a judgment of the District Court in the amount of $3.4 million, plus pre-judgment interest, plus attorneys' fees of $1.2 million. The suit is a class action based upon causes of action implied under §§ 10(b)

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