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Glenn Davis and Charles Insler recently secured summary judgment on behalf of their client, a national accounting firm. A bank had sued the accounting firm and the individual auditors for failing to find a discrepancy in the inventory of a business to whom the bank had extended a line of credit. The bank filed a two-count complaint, asserting claims for professional negligence and negligent misrepresentation arising from the default on its $3.5 million loan.
The Circuit Court of St. Louis County ordered the professional negligence claim to arbitration early in the case. Then, following extensive discovery, the Circuit Court held the bank could not prove the elements of its negligent misrepresentation claim, looking to section 552 of the Restatement Second of Torts.
Davis and Insler are both partners in the firm’s St. Louis office. Davis handles complex litigation and business counseling issues in a broad range of contexts. He also leads HeplerBroom’s HBCyberGroup. He is rated an AV Preeminent Attorney by Martindale-Hubbell, is a multi-year and multi-category recipient of Best Lawyers in America’s Lawyer of the Year award, and has been named to the list of Missouri/Kansas Super Lawyers. Insler concentrates his practice on the defense of commercial litigation. He has been named to the list of Best Lawyers in America, is a member of the ABA’s Forum on Communications Law, and speaks and writes regularly on legal issues. He also maintains a cooking blog that has over 200 original recipes.