Nos. 83-5638, 83-5639.

727 F.2d 873 (1984)

Peter MOSESIAN, Plaintiff-Appellant, v. PEAT, MARWICK, MITCHELL & CO., et al., Defendants-Appellees, Charles L. FLETCHER and Milton Fredman, as Co-Trustees of Royal Inns of America, Inc., a California corporation, et al., Plaintiffs-Appellants, v. PEAT, MARWICK, MITCHELL & CO., a partnership, and Earl Gagosian, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided March 7, 1984.

Attorney(s) appearing for the Case

Melvyn I. Weiss, New York City, William S. Dato, David J. Yardley, Milberg, Weiss, Bershad, Specthrie & Lerach, San Diego, Cal., for plaintiffs-appellants.

Victor M. Earle, III, Peat, Marwick, Mitchell & Co., New York City, for defendants-appellees.

Before CHOY and ANDERSON, Circuit Judges, and SOLOMON, District Judge.

SOLOMON, Senior District Judge:

These appeals present the issue of when the statutes of limitations began to run in these securities fraud cases.

Peter Mosesian, appellant, on behalf of himself and the other stockholders of Royal Inns of America, Inc. (Royal Inns), filed an action against the company's auditor Peat, Marwick, Mitchell & Co. (Peat Marwick). He alleged that Peat Marwick, in violation of its duty as a certified public accountant, issued false...

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