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ACKERMAN v. PRICE WATERHOUSE

84 N.Y.2d 535 (1994)

644 N.E.2d 1009

620 N.Y.S.2d 318

Carolyn Ackerman et al., Respondents, v. Price Waterhouse, Appellant. (And One Other Action and a Third-Party Action.)

Court of Appeals of the State of New York.

Decided December 6, 1994.

Attorney(s) appearing for the Case

Debevoise & Plimpton, New York City (David W. Rivkin, John G. Koeltl and Lorna G. Schofield of counsel), and Rodman W. Benedict for appellant.

Stamell, Tabacco & Schager, New York City (Richard J. Schager, Jr., Jared B. Stamell and Michelle Rago of counsel), Levy Sonet & Siegel and Camhy Karlinsky & Stein for respondents.

Willkie Farr & Gallagher, New York City (Louis A. Craco, Richard L. Klein, James H. Bicks and Joanne Chormaski of counsel), and Richard I. Miller for American Institute of Certified Public Accountants, amicus curiae.

Vedder, Price, Kaufman, Kammholz & Day, New York City (Dan L. Goldwasser, Michael J. Crisafulli and Salvatore G. Gangemi of counsel), for New York State Society of Certified Public Accountants, amicus curiae.

Judges SIMONS, TITONE, BELLACOSA, SMITH and LEVINE concur; Chief Judge KAYE taking no part.

CIPARICK, J.

In a malpractice action against an accountant, the Statute of Limitations begins to run on the date the accountant's work product is received by the client since this is the first time the client can rely on the alleged negligent work product. Therefore, in this case, we conclude that only those claims relating to defendant's negligence in connection with its advice and preparation of plaintiffs...

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