KPMG Says Buy.com 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 Buy.com’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 Buy.com founder Scott Blum did not rely on KPMG’s tax opinion prohibited him from bringing claims for fraud, breach of...
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Case Information

Case Title

Scott A. Blum v. KPMG LLP et al

Case Number

8:11-cv-01885

Court

California Central

Nature of Suit

Fraud or Truth-In-Lending

Judge

Cormac J. Carney

Date Filed

December 7, 2011

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Companies Mentioned

Government Agencies Mentioned

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