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RODNEY v. KPMG PEAT MARWICK

No. 97-2522MN.

143 F.3d 1140 (1998)

Richard J. RODNEY, Jr.; Doug Shonka; Carl Patrick Monahan; Jerry Hoehnen; Rosemary Boris; Thomas W. Newcome, III; Delvin D. Junker; Printing Mailing Trade District, affiliated with the Newspaper Drivers' Division of the International Brotherhood of the Teamsters, on behalf of themselves and all others similarly situated; History Theater, Inc., a Minnesota non-profit corporation; Paul Gold; Bernard Friedman, on behalf of themselves and all others similarly situated, Appellants, v. KPMG PEAT MARWICK, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided May 12, 1998.

Rehearing and Suggestion for Rehearing Denied July 6, 1998.

Attorney(s) appearing for the Case

Richard A. Lockridge, Minneapolis, MN, argued (Gregg M. Fishbein, Vernon J. Vander Weide, Marianne E. Durkin, William Weinstein, Mary F. Seymour, Mark Reinhardt, and Gavin S. Wilkinson, on the brief), for Appellants.

Eliot S. Kaplan, Minneapolis, MN, argued (Deborah J. Palmer, Agnes E.C. Brandon, Claudia L. Taft, and John A. Shutkin, on the brief), for Appellee.

Before FAGG, JOHN R. GIBSON, and MURPHY, Circuit Judges.

Rehearing and Suggestion for Rehearing En Banc Denied July 6, 1998.*

FAGG, Circuit Judge.

This is a class action securities fraud case against KPMG Peat Marwick (KPMG) as auditor of the Piper Funds Inc. Institutional Government Income Portfolio (the Fund). The members of the plaintiff class (the Investors), approximately 8000 shareholders who invested in the Fund between September 30, 1991 and April 11, 1994 (the class period)...

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