KPMG Can't Escape Investors' Suit Over Miller Energy Audit

Law360 (August 2, 2018, 6:03 PM EDT) -- A Tennessee federal judge on Thursday kept alive the bulk of a proposed class action from investors accusing KPMG of helping the now-defunct Miller Energy Resources Inc. falsify financials about oil and gas assets, saying there is adequate evidence that the alleged scheme was known to KPMG and caused share prices to fall.

Chief U.S. District Judge Thomas A. Varlan concluded that a media report and questioning by the U.S. Securities and Exchange Commission could have alerted KPMG to Miller Energy's financial misstatements, and determined that the investors adequately alleged that as the financial irregularities became apparent, shares of Miller Energy...

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