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As of June 30, 1992, other than the shareholders, the
corporation employed the following persons: Barbara Bailey;
Karin Laster; Beverly Hagan, C.P.A.; Thomas Tang, C.P.A.; Don
Christman, C.P.A.; Jeanette Joyce, accountant; Judy Cunningham,
administrator; and Joan Long, secretary. After the liquidation
of the corporation, many of its former employees were
subsequently employed by the partnership. By the end of October
1992, both Beverly Hagan and Thomas Tang left the partnership to
set up their own separate accounting practices. When Mr. Tang
left, Barbara Bailey, a computer consultant, and Karin Laster, a
bookkeeper, also left the partnership to work for Mr. Tang.
When Ms. Hagan and Mr. Tang left to set up their individual
practices, they each sent announcements to former clients of the
corporation and to clients of the partnership informing them of
their move. The partnership received at least 92 requests from
former clients to have the information contained in their files
made available to either Ms. Hagan or Mr. Tang. Pursuant to
these client authorizations, the partnership permitted Ms. Hagan
and Mr. Tang to copy the files of clients that left the
partnership. Neither Messrs. DeMarta and Norwalk nor the
partnership requested any compensation for any clients lost to
either Ms. Hagan or Mr. Tang. Five years following the
liquidation of the corporation, only about 10 percent of the
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Last modified: May 25, 2011