KPMG Can't Get Fraud Suit Over Rangers Audit Tossed

Law360, New York (September 10, 2012, 10:17 PM ET) -- A New York state judge on Friday refused to toss a suit alleging that a 2008 audit by KPMG LLP allowed Dallas private equity investor and former Texas Rangers owner Tom Hicks to cheat lenders out of $525 million in debt.

Judge Barbara R. Kapnick refused to dismiss claims of fraud, aiding and abetting fraud and civil conspiracy made by lender GSP Finance LLC, which says KPMG shifted assets around while preparing an audit for Hicks Sports Group LLC so Hicks wouldn't exceed a $600 million...
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