Interesting article this morning in the New Jersey Law Journal, Settlement Proposed in Class Action Over Porous KPMG Tax Shelters:
KPMG and Sidley, Austin, Brown & Wood have reached a $225 million settlement with plaintiffs in a class action suit that charges the firms with having sold bogus tax shelters. The settlement, in Simon v. KPMG LLP, 05-3189, is subject to approval by U.S. District Judge Dennis Cavanaugh in Newark, N.J., who will hear the matter on Friday.
