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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 is subject to approval by U.S. District Judge Dennis Cavanaugh in Newark, N.J., who will hear the matter on Friday. The parties reached the agreement after a year of mediation. Several similar class actions over the tax shelters are pending in other states.
October 05, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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