Jessica Reynolds & Associates audited the financial statements and gave an unqualified opinion to Legendary Corporation. Only one report was issued to Legendary, as they did not indicate that they would use the audited financial statements for any other purpose than shareholder reporting. Berkshire Bank loaned Legendary Corporation $500,000 based on the strength of the audited statements. Subsequently, Legendary defaulted on the loan. Berkshire Bank would like to bring a case against Reynolds & Associates for not uncovering misstatements that would have indicated Legendarys subsequent insolvency. What category of law and specific legal action would be most appropriate? What legal defense should Reynolds & Associates use? Be sure to fully explain your responses. References