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BOYKIN v. ARTHUR ANDERSEN & CO.

1920683.

639 So.2d 504 (1994)

Samuel H. BOYKIN, Jr., and Apon, Inc. v. ARTHUR ANDERSEN & COMPANY, et al.

Supreme Court of Alabama.

As Modified on Denial of Rehearing April 8, 1994.

Attorney(s) appearing for the Case

Andrew P. Campbell and Shawn Hill Crook of Leitman, Siegel, Payne & Campbell, P.C., Birmingham, for appellants.

Asa Rountree, James L. Goyer III and Jeffrey R. McLaughlin of Maynard, Cooper & Gale, P.C., Birmingham, for Arthur Andersen & Co.

Hobart A. McWhorter, Jr. of Bradley, Arant, Rose & White, Birmingham, for Jack H. Shannon.

Samuel H. Franklin and S. Douglas Wiliams, Jr. of Lighfoot, Franklin, White & Lucas, Birmingham, for William L. Watson III, B.K. Goodwin III, Edwin I. Gardner and C. Whit Walter.

Jack Drake, Tuscaloosa, and Bruce J. McKee of Hare, Wynn, Newell and Newton, Birmingham, for amicus curiae Alabama Trial Lawyers Ass'n.

Robert M. Girardeau and Nancy S. Akel of Huie, Fernambucq & Stewart, Birmingham, for amicus curiae Alabama Society of Certified Public Accountants.

Henry E. Simpson of Lange, Simpson, Robinson & Somerville, Birmingham, for amici curiae AmSouth Bancorporation, Compass Bancshares, Inc., Energen Corp., First Alabama Bancshares, Inc., Protective Life Corp. and SouthTrust Corp.

SHORES, Justice.

This case involves claims of fraud, conspiracy, professional negligence, and breach of fiduciary duty, brought by two stockholders of Secor Bank against four former officers or directors of Secor Bank, one current but inactive director of Secor Bank, and the independent certified public accountants for Secor Bank. The damages claimed are based on the purchase, retention, and/or sale of stock with a fair market value substantially less than that represented...

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