Plaintiff was the owner of R.A. Industries, and owned 46% of the stock in its successor company, Rice Aircraft, Inc. Defendant was the accountant for both companies from 1979 until 1988 and, in fact, had recommended the reorganization of the former into the latter for tax reasons, which was accomplished in 1985. At the time of the incorporation of Rice Aircraft, Inc., defendant purchased 22½% of the common stock of the company. He acquired the funding by borrowing $450...
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