PENNSVILLE, N.J. - First Home Savings Bank said it filed suit against two accounting firms - Deloitte & Touche and KPMG Peat Marwick - stemming from auditing work the firms did.

Fidelity Mutual was a savings and loan association that suffered substantial losses that resulted in its merging with First Home Savings.

The lawsuit makes claims against Deloitte & Touche based on its audits during this period, and against Peat Marwick concerning its review of the audit.

The suit seeks actual damages, recovery of certain fees paid to the accounting firms, interest, and punitive damages.

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