United States Seventh Circuit

In a suit charging a bankrupt company's auditor with negligence and breach of contract in failing to include a going-concern qualification in an audit report, summary judgment for defendant is affirmed where: 1) an auditing firm has no duty to investigate matters external to a company in order to determine whether the company will continue to be a going concern; and 2) plaintiff's suit was barred by the one-year statute of limitations in Indiana's Accountancy Act.

Appellate Information

• Argued 05/24/2007
• Decided 07/17/2007
• Published 07/17/2007

Judges

• POSNER, Circuit Judge., Before POSNER, KANNE, and ROVNER, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellant:
  
• Elliott D. Levin, Rubin & Levin, Indianapolis, IN, Christopher A. Byrne (argued), Washington, DC, for Trustee-Appellant.


• For Appellees:
  
• James C. Schroeder, Stanley J. Parzen (argued), Mayer, Brown, Rowe & Maw, Chicago, IL, for Appellee.