Court Allows Amended Claims In Tax Shelter Case

Law360, New York (February 13, 2007, 12:00 AM EST) -- An appeals court has revived part of a suit filed against tax giant KPMG LLP and its underwriters over a tax shelter that has since been declared invalid.

While the U.S. Court of Appeals for the Ninth Circuit upheld a lower court’s decision to dismiss some of the claims in Swartz v. KPMG LLP, it reversed the part of the ruling that denied plaintiffs leave to amend their common-law fraud and conspiracy claims.

“Although the original complaint failed to allege sufficient jurisdictional facts, Swartz should have...
To view the full article, register now.