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WHITLOCK CORP. v. DELOITTE & TOUCHE, L.L.P.

No. 00-1718.

233 F.3d 1063 (2000)

The WHITLOCK CORPORATION, formerly known as Apex Automotive Warehouse, L.P., Plaintiff-Appellant, v. DELOITTE & TOUCHE, L.L.P., Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided December 7, 2000.

Attorney(s) appearing for the Case

Constantine L. Trela (argued), Scott T. Mendeloff, Sidley & Austin, Chicago, IL, for Defendant-Appellee.

Frederick H. Cohen (argued), Roger A. Lewis, Goldberg, Kohn, Bell, Black, Rosenbloom & Moritz, Chicago, IL, for Plaintiff-Appellant.

Before EASTERBROOK, KANNE, and ROVNER, Circuit Judges.

EASTERBROOK, Circuit Judge.

In January 1995 Apex Automotive Warehouse, a wholesaler of auto parts, purchased from WSR Corporation the stock of Whitlock Corporation, a retailer of auto parts. As is common in transactions of this kind, the closing price was calculated on the basis of pro forma financial statements that the seller had prepared, and whose accuracy the seller warranted. See LHLC Corp. v. Cluett, Peabody & Co., 842 F.2d 928

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