Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Charlie Company is headquartered in Wisconsin. Charlie Company's auditors are headquartered in Minnesota. Bob lives in Bloomington Indiana but works in Chicago, Illinols. Based on

Charlie Company is headquartered in Wisconsin. Charlie Company's auditors are headquartered in Minnesota. Bob lives in Bloomington Indiana but works in Chicago, Illinols. Based on a tip from his boss, Bob calls his stockbroker (Jlim, who offices in Chicago) and instructs him to purchase 1,000 shares of Charlie Company despite never having requested or reviewed Charlie Company's financial statements. Charlie Company is traded on the New York Stock Exchange and the transaction takes place 15 minutes later on the floor of the exchange.
farlie Company declared bankruptcy three months later and Bob lost his entire investment Bob sued Charlle Company's auditors for ordinary negligence.
The trial is scheduled for hearing in Madison, Wisconsin. Before the opening of the trlal, the attarney for the auditars objects to the trial being held in Wisconsin, since the transection between Bob and Jim took place in illinois. The attorney asks that the trial be moved to minais.
Required:
A Why would the attorney ask for the trial to be moved?
B. What defense would you raise if you were the auditors" atto ey?
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started