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EASTERN CORPORATE FED. CRED. v. PEAT, MARWICK, ETC.

Civ. A. No. 84-2056-T.

639 F.Supp. 1532 (1986)

EASTERN CORPORATE FEDERAL CREDIT UNION, Plaintiff, v. PEAT, MARWICK, MITCHELL & CO., et al., Defendants.

United States District Court, D. Massachusetts.

July 30, 1986.

Attorney(s) appearing for the Case

Robert J. Muldoon, Jr., Bryan G. Killian, Paul R. Gupta, Sherin & Lodgen, Boston, Mass., for plaintiff.

Robert E. Sullivan, Herrick & Smith, Boston, Mass., for defendant, Professional Asset; Ross A. Arbiter, Stan W. Levy, Weinberg, Zipser, Arbiter, Heller & Glick, Richards, Watson, Dreyfuss & Gershon, Erwin E. Adler, Los Angeles, Cal., and Gene A. Castleberry, Robert A. Wiener, Oklahoma City, Okl., of counsel.

Jessica Block, Arnold P. Messing, Margaret H. Marshall, Csaplar & Bok, Boston, Mass., for Peat, Marwick, Blanton, and York; William E. Hegarty, Mathias E. Mone, Edward P. Krugman, Cahill Gordon & Reindel, and Edwin D. Scott, Assoc. Gen. Counsel, Peat, Marwick, Mitchell & Co., New York City, of counsel.

MEMORANDUM

TAURO, District Judge.

Plaintiff, a disappointed investor in the financially troubled Penn Square Bank ("Penn Square"), seeks damages from the defendant accountants who performed an audit of the bank. Plaintiff's complaint asserts federal RICO causes of action, as well as various state law claims.

In the latter part of 1981, defendant Peat, Marwick, Mitchell & Co. ("Peat Marwick") entered into an agreement with Penn Square to perform...

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