Miller Energy Investors Win Cert. In Suit Over KPMG Audit

By Reenat Sinay (June 29, 2020, 10:34 PM EDT) -- A Tennessee federal magistrate judge on Monday recommended certifying two proposed investor classes accusing accounting giant KPMG of helping the now-defunct Miller Energy Resources Inc. falsify financials about oil and gas assets, finding the shareholders proved they fulfill all federal requirements.

U.S. Magistrate Judge Debra C. Poplin said that two classes — one bringing Section 10 claims under the Exchange Act and one bringing Section 11 claims under the Securities Act — should be certified after finding they were large enough, the prospective class representatives were typical of the classes overall, and their choice of counsel was adequate.

Investors Lewis Cosby, Eric Montague...

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