A $178 million settlement in a class action against accounting firm KPMG and Sidley Austin Brown & Wood, for allegedly selling fraudulent tax shelter strategies, won final approval Friday. U.S. District Judge Dennis Cavanaugh gave his approval despite a last-minute evidence proffer from KPMG counsel that class counsel Milberg Weiss Bershad & Schulman might have promised inappropriate payments to the lead plaintiffs — conduct similar to that for which Milberg Weiss and two partners were indicted last month.
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Posted on Wednesday, June 7th, 2006. Filed under: Business Law, Law Misc
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