South Dakota Supreme Court

Allen L. Guthmiller, Plaintiff and Appellant v. Deloitte & Touche, LLP, Pricewaterhousecoopers, LLP, Defendants And…

June 22, 20052005 S.D. LEXIS 80

Summary

The court reversed dismissal of Guthmiller's claims as untimely because the pleadings did not establish that the defendants were licensed accountants or that the appraisal work was performed in that capacity, and the limitations defense had not been raised in a responsive pleading. It affirmed the refusal to dismiss the deceit and breach-of-contract claims because the complaint adequately alleged the required elements of each claim. The case was remanded for further proceedings, including determination of whether the three-year limitations period applies.

Holding

  • Applicability and procedural assertion of the three-year statute of limitations. The circuit court erred in dismissing the claims under the three-year limitations period because the pleadings did not establish that the defendants were licensed accountants or were acting as accountants, and the limitations defense had not been raised by responsive pleading.
  • Sufficiency of the deceit claim. The complaint adequately stated a deceit claim by alleging that the appraisals contained untrue valuations, were made with knowledge that Guthmiller would rely on them, were made with reckless disregard for their fairness, and caused financial injury.
  • Sufficiency of the breach-of-contract claim. The complaint adequately stated a breach-of-contract claim by alleging enforceable express and implied promises that the appraisals would be fair and independent, breach of those promises, and resulting damages.

Docket None

Cited authorities

  • Rule 12(b)(5)
  • Rule 12(b)
  • Fed. R. Civ. P. 7(a)
  • Fed. R. Civ. P. 7(a)

Cited by

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