Court of Appeals for the Fifth Circuit August 3, 1992, 91-7193 (Federal Deposit Insurance Corporation v. Ernst & Young)

JERRE S. WILLIAMS, Circuit Judge:

The Federal Deposit Insurance Corporation brought suit against Ernst & Young. The suit asserts that Arthur Young & Company and its successor Ernst & Young both negligently audited Western Savings Association and breached their contracts to audit Western Savings. The district court dismissed the breach of contract action for failure to state a claim.