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July 20, 1987

ARTHUR YOUNG ASKS FOR RETRIAL OF PROFESSIONAL MALPRACTICE SUIT

By CBR Staff Writer

Accounting firm Arthur Young & Co is asking for a retrial of a jury decision that finds the company liable for $4.3m damages for professional malpractice in a suit brought by investors in Osborne Computer Corp by failing to warn the company that there were deficiencies in its financial controls, so that it thought it was at break-even just before it went public when it fact it was losing about $3m a quarter: the jury cleared Adam Osborne and Young of fraud; Young says it will appeal if it doesn’t get a retrial.

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