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September 15, 2011 |

KPMG Case Probes Limits of Holding Accountants Liable for Sketchy Audits

A case argued Tuesday at the state Supreme Court will determine whether an accounting firm faces third-party liability when information from audits of a client is used to help advance a merger deal and is later found to be threadbare.
4 minute read
August 30, 2010 |

KPMG Accounting Malpractice Verdict Affirmed but $38 Million Damage Award Vacated

A New Jersey appeals court has found sufficient evidence that accounting giant KPMG was negligent in its audits of the books of a ceramic collectibles company but inadequate proof to support a $38 million damages award to another company that acquired it. The panel said KPMG's spotty audit amounted to malpractice on a non-client, but found that the acquiring company and its president failed to prove that the combined company at the time of the merger was worth its purported value and to justify the jury's award.
4 minute read
October 14, 2008 |

Company awarded $31.8M against KPMG for allegedly ignoring fraud

A New Jersey jury has awarded $31.8 million to Cast Art Industries, a distributor of collectibles that sued KPMG for ignoring fraud at a company that Cast Art had acquired in 2000. The verdict, which is $41 million with interest, is believed to be the largest against KPMG to date.
2 minute read
August 26, 2010 |

KPMG Accounting Malpractice Verdict Affirmed but Damage Award Vacated

In a half-empty/half-full ruling for KPMG, a New Jersey appeals court finds sufficient evidence that the accounting giant was negligent in its audits of the books of a ceramic collectibles company but inadequate proof to support a $38 million damages award to another company that acquired it.
4 minute read
March 15, 2012 |

AT&T may terminate iPhone user's service as it seeks settlement

AT&T may terminate its service to an iPhone user who it says violated his agreement by tethering his device, unless he keeps settlement talks with the company confidential.
3 minute read

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