No Proof of 'Loss Causation' Required in Massachusetts for Common Law Fraud Claim

Business Valuation UpdateVol. 9 No. 4
Legal and Court Case Update
April 2003

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fraud
Reisman v. KPMG Peat Marwick LLP
57 Mass. App. Ct. 100, 781 N.E.2d 821, 2003 Mass. App. LEXIS 51
January 15, 2003
US
State Court
Massachusetts
Court of Appeals
Lenk

Summary

In this action for fraud and misrepresentation against an accounting firm for deceptive financial reporting, the auditors moved for summary judgment on the grounds that the plaintiff investors could not show that their losses were caused by the misrepresentations.

See Also

Reisman v. KPMG Peat Marwick LLP

Full Text of Court Cases
January 15, 2003

At issue is the misrepresentation of the revenue of a business in which the plaintiff held stock by the defendant.