Defendants are accountants retained by Coleport Textile Corp. to prepare financial statements for the year ending October 31, 1990. Plaintiffs are factors which purchased accounts receivable, representing goods sold and delivered to Coleport by its vendors. The complaint alleges that defendants "acted in reckless disregard of the truth and with gross negligence" in failing to discover that Coleport's liabilities were substantially understated and that its earnings were overstated...
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