Corporations and securities brief ~ KPMG may be nearing settlement with DOJ

[JURIST] Leading Monday's corporations and securities law news, the Financial Times is reporting that the US Department of Justice is nearing a settlement with Big Four accounting firm KPMG [FT report]. KPMG has been under investigation for its creation and marketing of illegal tax shelters and in June, KPMG publicly accepted responsibility for the illegal actions [JURIST report] of some of its former employees. According to the story, KPMG will agree to between 12 and 18 months probation, an independent overseer and a fine that could top $500 million. Reuters has more.

In other corporations and securities law news...

 

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.