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WARD v. ERNST & YOUNG

Record No. 921107.

435 S.E.2d 628 (1993)

William WARD v. ERNST & YOUNG.

Supreme Court of Virginia.

September 17, 1993.

Attorney(s) appearing for the Case

Bruce M. Bender, Rockville, MD (James A. McGovern; Jeffrey M. Axelson, Van Grack, Axelson, Williamowsky & Jacobs, on briefs), for appellant.

Bruce M. Cormier, New York City (Kathryn A. Oberly, New York City, John P. Corrado, Mark W. Wasserman, Alexandria, Ernst & Young, New York City, Hazel & Thomas, Alexandria, on brief), for appellee.

Amicus curiae, Virginia Soc. of Certified Public Accountants (Ralph L. "Bill" Axselle, Jr., Sarah Hopkins Finley, Williams, Mullen, Christian & Dobbins, Richmond, on brief).

Present: CARRICO, C.J., COMPTON, STEPHENSON, WHITING, HASSELL and KEENAN, JJ., and POFF, Senior Justice.

POFF, Senior Justice.

We awarded an appeal to a plaintiff, the sole stockholder of a corporation, from an adverse judgment entered in an action for breach of contract and professional negligence brought against an accounting firm engaged by the corporation. The plaintiff claimed damages for the loss of a portion of the proceeds of the sale of his stock resulting from the defendant's error in calculating the corporation's "deferred revenue". The trial court granted...

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