Judge OKs Fraud Claims Over KPMG Audit For Sports Owner

Law360, New York (September 22, 2011, 8:00 PM EDT) -- A New York state judge ruled Thursday that fraud claims could remain in a case 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.

GSP Finance LLC alleged in March that KPMG shifted around assets while preparing an audit for Hicks Sports Group LLC so that Hicks wouldn't exceed a $600 million debt cap on the syndicated loans held by GSP and others. But when his...
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