KPMG Settles Malpractice Suit For Undisclosed Amount

Law360, New York (March 28, 2006, 12:00 AM EST) -- After months of negotiation, the accounting firm KPMG LLP will shell out an undisclosed amount of money in order to settle a $50 million lawsuit with former client Targus Group International Inc., according to a published report.

“The parties have reached a settlement. We cannot discuss the terms, which are confidential. We have settled the case to avoid more costly litigation,” said KPMG spokesperson Tom Fitzgerald.

Reuters reported on Tuesday that court officials close to the case indicated KPMG and Targus, a California company that produces...
To view the full article, register now.