KPMG Says Founder's $75M Suit Barred By Tax Case

Law360, Los Angeles (July 02, 2012, 9:17 PM ET) -- KPMG LLP urged a California federal judge Monday to dismiss a $75 million lawsuit claiming the accounting giant defrauded’s founder by marketing tax avoidance strategies while concealing warnings that they wouldn’t withstand IRS scrutiny, saying a January tax court ruling bars the claims.

KPMG’s attorney Jack DiCanio told U.S. District Judge Cormac J. Carney on Monday that a tax court’s ruling earlier this year that founder Scott Blum did not rely on KPMG’s tax opinion prohibited him from bringing claims for fraud, breach of...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers


Case Information

Case Title

Scott A. Blum v. KPMG LLP et al

Case Number



California Central

Nature of Suit

Fraud or Truth-In-Lending


Cormac J. Carney

Date Filed

December 7, 2011


Law Firms Mentioned

Companies Mentioned

Government Agencies Mentioned

Related Articles