HOLLOWAY v. PEAT, MARWICK, MITCHELL & CO.

Nos. 87-1486, 87-1490.

900 F.2d 1485 (1990)

W. David HOLLOWAY, M.D.; Lisa Holloway; Charles Woodard; Linda Woodard; Maxine Black, individually and as Trustee for James T. Black and Shellie Black; Porter-Strait Instrument Co., Inc., an Oklahoma corporation; Jeremy K. Bush; Shirley Bush; United Resources Building Company, Inc., an Oklahoma corporation; Hugh Hollowell; Marshall H. Udden; Mary F. Udden; Howard R. Cadwell; Doris G. Cadwell; William L. Akers; Norita L. Akers; Cal Acree; Betty K. Acree; Robert John Walpole; Bobbee C. Ray, individually and as Trustee for James F. Haning, II and Angela Jean Haning Revocable Trust and Victoria Nininger; Joy A. Donovan, as Trustee for James M. Donovan and John A. Donovan; R.H. Arnold; Marvelle McDaniel; Martha Hester Arnold; Claudette Howe; Fred E. Miller; Vera Miller; Beverly Joyce Miller; Ann McLoud; Joyce McClure; Charlotte A. Broad, individually and as Trustee for Russell M. Gawf and Megan D. Gawf; John E. Broad; John W. Broad; Dewayne Broad, for themselves and as representative parties of class, Plaintiffs/Appellees/Cross-Appellants, v. PEAT, MARWICK, MITCHELL & CO., a partnership; Sunbelt Bank & Trust Company, formerly Republic Bank & Trust Co., a State Bank Association; Wesley R. McKinney, individually; Phillips Breckinridge, Administrator of the Estate of Glenn F. Prichard, Deceased; RBI of Oklahoma, Inc., a Delaware corporation; R.R. Bastian, III; Hal W. Oswalt; Harold J. Born; William J. Doyle, Jr.; Horace H. Porter, M.D.; William W. Ramsey; Edward B. Wilcox; Altus E. Wilder, III; G. Larry Young; Orville J. Bertalot; Ted C. Bodley; Keith E. McNeal, Edward L. Taylor; Charles G. Wray; Ansil Ludwick, Jr.; Paul W. Anderson, Jr.; G. Richard Degen; Brown J. Akin, Jr.; Robert C. Bates; Richard G. Bell; Bob C. Lamirand; Douglas W. Dixon; Rodney Miller; Dan W. Allred; Timothy J. Sullivan; Dwight A. Pilgram; Roger H. Laubach; James D. Essig; Martha J. Cravens; Wilma F. Wood; Charles Schusterman; Richard Williford; Republic Bancorporation, Inc., also known as Sunbelt Bancorporation, Inc., an Oklahoma corporation, Defendants/Appellants/Cross-Appellees.

United States Court of Appeals, Tenth Circuit.

April 10, 1990.


Attorney(s) appearing for the Case

Lawrence H. Eiger (Michael B. Hyman and Steven A. Kanner, of Much, Shelist, Freed, Denenberg, Ament & Eiger, P.C., Chicago, Ill.; Steven E. Smith, of Steven E. Smith & Associates, Charles O. Hanson, Richard K. Holmes, and Stewart E. Field, of Hanson, Holmes, Field & Snider, of Tulsa, Okl.; and Professor Joseph C. Long, of the University of Oklahoma, College of Law, Norman, Okl., with him on the briefs), of Much, Shelist, Freed, Denenberg, Ament & Eiger, P.C., Chicago, Ill., for plaintiffs/appellees/cross-appellants.

L.K. Smith (Kimberly A. Lambert, with him on the briefs), of Boone, Smith, Davis & Hurst, Tulsa, Okl., for all the defendants/appellants/cross-appellees except Peat, Marwick, Mitchell & Co.

Graydon Dean Luthey, Jr. (Deryl L. Gotcher and Roy C. Breedlove, of Jones, Givens, Gotcher, Bogan & Hilborne, P.C., Tulsa, Okl.; and Anthony J. Costantini, Associate Gen. Counsel, of Peat, Marwick, Main & Co., New York City, with him on the briefs), of Jones, Givens, Gotcher, Bogan & Hilborne, P.C., Tulsa, Okl., for defendants/appellants/cross-appellees Peat, Marwick, Mitchell & Co.

Daniel L. Goelzer, Gen. Counsel, Jacob H. Stillman, Associate Gen. Counsel, Rosalind C. Cohen, Asst. Gen. Counsel, and Batya Roth, attorney, of the S.E.C., Washington, D.C., amicus curiae.

Before McKAY, BARRETT and TACHA, Circuit Judges.


TACHA, Circuit Judge.

On March 5, 1990, the Supreme Court granted the petition for writ of certiorari in Holloway v. Peat, Marwick, Mitchell & Co., 879 F.2d 772 (10th Cir.1989), vacated the judgment, and remanded the case for further consideration in light of Reves v. Ernst & Young, ___ U.S. ___, 110 S.Ct. 945, 108 L.Ed.2d 47 (1990). ___ U.S. ___, 110 S.Ct. 1314, 108...

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