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TOUCHE ROSS & CO. v. COMMERCIAL UNION INS. CO.

No. 56753.

514 So.2d 315 (1987)

TOUCHE ROSS & COMPANY v. COMMERCIAL UNION INSURANCE CO.

Supreme Court of Mississippi.

Rehearing Denied November 18, 1987.

Attorney(s) appearing for the Case

Jack W. Brand, Kenneth Harmon, Gerald, Brand, Watters, Cox & Hemleben, Jackson, for appellant.

Kenneth G. Perry, Ken R. Adcock, Shell, Buford, Bufkin, Callicutt & Perry, Jackson, for appellee.

Before ROY NOBLE LEE, P.J., and SULLIVAN and GRIFFIN, JJ.

GRIFFIN, Justice, for the Court:

This case, concerning an independent auditor's liability to a third party, comes to the Court from the Circuit Court of the First Judicial District of Hinds County, where a jury found Touche Ross & Company negligent in its preparation of financial statements, upon which Commercial Union Insurance Company had relied when extending coverage to Fidelity Bank. The jury awarded Commercial Union $1,000,000 in actual damages and $500...

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