Sidley Austin is expected to pay $30 million to settle a class action next month filed by more than 200 investors who lost money on illegal tax shelters that the law firm approved.
But the nation’s seventh-largest firm isn’t out of the woods yet.
Sidley Austin is expected to pay $30 million to settle a class action filed by more than 200 investors who lost money on illegal tax shelters that the law firm approved. But the nation's seventh-largest firm isn't out of the woods yet. Investors in about 55 cases have opted out of the settlement, which includes claims against KPMG, the accounting firm that sold the shelters. A lawyer who represents three such investors said liability costs associated with the opt-out cases could exceed $500 million.
May 22, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Sidley Austin is expected to pay $30 million to settle a class action next month filed by more than 200 investors who lost money on illegal tax shelters that the law firm approved.
But the nation’s seventh-largest firm isn’t out of the woods yet.
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