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ROBIN v. ARTHUR YOUNG & CO.

Nos. 88-3506, 89-1052.

915 F.2d 1120 (1990)

Albert A. ROBIN, Sheli Z. Rosenberg, Donald S. Chisholm, and Equity Holdings, a partnership, Plaintiffs-Appellants, Cross-Appellees, v. ARTHUR YOUNG & COMPANY, a partnership, Defendant-Appellee, Cross-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided October 4, 1990.

Rehearing and Rehearing Denied November 15, 1990.

Attorney(s) appearing for the Case

James S. Gordon and Edward Slovick, Chicago, Ill., for Albert A. Robin, Sheli Z. Rosenberg, Donald S. Chisholm, and Equity Holdings.

Robert F. Finke, Rosanne J. Faraci, Mayer, Brown & Platt, Chicago, Ill., Carl D. Liggio, John Matson, and Patricia A. McGovern, New York City, for Arthur Young & Co.

Before WOOD, Jr., RIPPLE and MANION, Circuit Judges.

Rehearing and Rehearing In Banc Denied November 15, 1990.

HARLINGTON WOOD, Jr., Circuit Judge.

In this securities action, plaintiffs appeal from the dismissal of their amended complaint under Fed.R.Civ.P. 12(b)(6) for failure to state a claim. Defendant cross-appeals from the denial of its motion to dismiss on limitations grounds.

I. FACTUAL and PROCEDURAL BACKGROUND

In early December 1983, plaintiffs Albert A. Robin, Sheli Z. Rosenberg,...

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