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BRAE TRANSP., INC. v. COOPERS & LYBRAND

No. 85-1891.

790 F.2d 1439 (1986)

BRAE TRANSPORTATION, INC. and Brae Communication, Inc., Plaintiffs-Appellants, v. COOPERS & LYBRAND, a partnership; Luke G. Williams; Luke G. Williams, a Trustee for the Luke G. Williams Trust; Charles M. Williams; Donald Sherwood; Pioneer Investment Company, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided June 3, 1986.

Attorney(s) appearing for the Case

William A. Brockett, Keker & Brockett, San Francisco, Cal., for plaintiffs-appellants.

Marc P. Fairman, Morrison & Foerster, San Francisco, Cal., for defendants-appellees.

Before FARRIS and BOOCHEVER, Circuit Judges, and KEEP, District Judge.

FARRIS, Circuit Judge:

Brae Transportation, Inc. and Brae Communication, Inc. appeal from summary judgment granted to the Shareholders of American Sign and Indicator Corporation. After buying 85% of the stock of AS & I from the Shareholders, Brae discovered a shortfall in the warranted net worth of AS & I. Settlement of that claim included the execution of a Release Agreement whereby Brae released the Shareholders of AS&I from all claims as to net worth...

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