Quimbee logo
DMCA.com Protection Status

Berkowitz v. Baron

428 F. Supp. 1190 (1977)

Case BriefRelatedOptions
From our private database of 28,500+ case briefs...

Berkowitz v. Baron

United States District Court for the Southern District of New York

428 F. Supp. 1190 (1977)

Facts

On August 26, 1970, Gail and Joel Baron (defendants) sold their two clothing companies to Nathaniel Berkowitz, Edward Yaste, and Howard Hoffman (the buyers) (plaintiffs). In purchasing the companies, the buyers relied in part on the companies’ financial statement for the fiscal year ending April 30, 1970. In that financial statement, the Barons included shipping expenses as part of the companies’ manufacturing overhead. The buyers were not able to revive or maintain the companies’ business and ultimately closed the manufacturing plant on October 23, 1970. The buyers sued the Barons for securities fraud, alleging that the financial statement was materially misleading. The buyers presented expert testimony that the Barons’ inclusion of shipping expenses as manufacturing overhead did not comply with generally accepted accounting principles (GAAP).

Rule of Law

Issue

Holding and Reasoning (Cannella, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 545,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials
  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 545,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 28,500 briefs, keyed to 983 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 545,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 28,500 briefs - keyed to 983 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership