Monday, June 05, 2006

KPMG Settles Clients’ Suit

According to the AP, a federal judge in Newark, N.J., on Friday gave final approval to a $153.9 million settlement between KPMG and about 200 former clients who used its tax shelters. The KPMG shelters, sold from 1996 to 2002, were later found “abusive” by the Internal Revenue Service.

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