Interesting article in the New York Times, KPMG Hits Roadblocks in Resolving Tax Shelters, by Lynnley Browning:

The accounting firm KPMG is encountering a number of obstacles as it tries to push through a $195 million settlement with wealthy investors who bought certain questionable tax shelters. The proposed class-action settlement, which was given preliminary approval in November, is crucial to the firm’s efforts to limit its exposure to potentially billions of dollars in legal claims from investors. But at least several dozen, and perhaps hundreds, of investors, representing 30 percent of the roughly 275 claims covered under the settlement, elected by a late December deadline not to participate in the deal, according to three people involved in the proceedings.