SHARP, Stanley L. v. COOPERS & LYBRAND, Appellant

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• explaining why heightened duty exists and providing citations to other circuits holding that view
• determining exception applies to accounting firm that knew that two of its opinion letters, which turned out to be wrong, were intended to be used as a tool by securities sellers
• Coopers & Lybrand was held liable on the basis of respon-deat superior for a non-partner’s primary fraud
• accountant who issued opinion letter used in sales program not liable under Pennsylvania Securities Act because accountant was not the actual seller
• limited exception for brokerage and accounting firms based upon their positions of high trust in the marketplace
• application of vicarious liability principles limited to cases where purpose of securities laws served

Source: CourtListener parenthetical corpus (CC0).