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SEC. BANK & TRUST CO. v. FABRICATING, INC.

673 S.W.2d 860 (1983)

SECURITY BANK & TRUST COMPANY OF PONCA CITY, OKLAHOMA, and The Town of Grand Junction, Tennessee, Plaintiffs, v. FABRICATING, INC., E.C. Holman and Charles E. Bruce, and Walter Podrog, L.J. Perry, J.W. Caperton, Union Planters National Bank, and all Known Bondholders of Town of Grand Junction Bonds Date October 1, 1972, Defendants. J. Frank MANNING and Walter Podrog, Representatives of the Class of Bondholders of Town of Grand Junction Bonds, Dated October 1, 1972 (Fabricating, Inc.), Counter-Plaintiffs-Appellants, v. SECURITY BANK & TRUST COMPANY OF PONCA CITY, OKLAHOMA, and The Town of Grand Junction, Tennessee and Waring, Cox, James, Sklar and Allen, a Partnership Composed of Allen Cox, Jr., Roane Waring, Jr., Erich William James, Robert Lee Cox, Jerald H. Sklar, Lewis F. Allen and Roger D. Fish, as General Partner, Counter-Defendants-Appellees.

Supreme Court of Tennessee, at Jackson.

Rehearing Denied July 9, 1984.

Attorney(s) appearing for the Case

H. Morris Denton, Bolivar, Agnes Thornton Bird, Frank B. Bird, Maryville, for counter-plaintiffs-appellants; Denton & Cary, Bolivar, Bird, Navratil & Bird, Maryville, of counsel.

Leo Bearman, Jr., Memphis, for counter-defendants-appellees; Heiskell, Donelson, Bearman, Adams, Williams & Kirsch, Memphis, of counsel.

OPINION

BROCK, Justice.

As the parties are presently aligned, this is a class action brought by representatives of a class of bondholders of the Town of Grand Junction, Tennessee, against the law firm of Waring, Cox, James, Sklar & Allen for damages resulting from alleged malpractice.

A judgment was rendered in favor of the bondholders against the Waring firm and against the Town of Grand Junction in the Chancery Court for Hardeman County, but...

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