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OREGON STEEL MILLS v. COOPERS & LYBRAND

(CC 9708-06108; CA A107366; SC S48978).

83 P.3d 322 (2004)

336 Or. 329

OREGON STEEL MILLS, INC., a Delaware corporation, Respondent on Review, v. COOPERS & LYBRAND, LLP, a Delaware limited liability partnership, Petitioner on Review.

Supreme Court of Oregon.

Decided January 23, 2004.

Attorney(s) appearing for the Case

Michael L. Rugen, of Heller Ehrman White & McAuliffe, LLP, San Francisco, California, argued the cause and filed the brief for petitioner on review. With him on the brief were Natalie L. Hocken, Evan L. Schwab, and Rita V. Latsinova.

Lynn R. Nakamoto, of Markowitz Herbold Glade & Mehlhaf, P.C., Portland, argued the cause and filed the brief for respondent on review. With her on the brief was Peter H. Glade.

David F. Rees, of Stoll Stoll Berne Lokting & Schlachter, P.C., Portland, filed a brief on behalf of amicus curiae Oregon Trial Lawyers Association. With him on the brief was Gary M. Berne.

Before CARSON, Chief Justice, and GILLETTE, DURHAM, RIGGS, De MUNIZ, and BALMER, Justices.

BALMER, J.

This case requires us to consider once again difficult issues of causation and foreseeability in tort law. We are asked to decide whether defendant, an accounting firm, may be held liable for damages suffered by plaintiff, its client, due to changes in the market price of plaintiff's stock that defendant's negligent conduct did not cause. The trial court granted defendant's motion for summary judgment, and the Court of Appeals reversed. Oregon Steel...

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