5th Circ. Says KPMG Suits Were Rightly Tossed

Law360, New York (July 12, 2009, 12:00 AM EDT) -- Neither KPMG LLP's competitors nor its clients pleaded a concrete injury, a federal appeals court has ruled, affirming the dismissal of two putative class actions accusing the accounting giant of unfair competition, fraud and conspiracy over a Texas ex-partner's credentials.

Friday's ruling, in the U.S. Court of Appeals for the Fifth Circuit, held that the competitors' claims of injury were too speculative and the clients failed to plead an actual injury.

The appeals case stems from two lawsuits brought against KPMG. In the first, public accountant...
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