High Court Resurrects KPMG Arbitration Bid In Madoff Row

Law360, New York (November 7, 2011, 1:15 PM EST) -- The U.S. Supreme Court on Monday told a Florida appeals court to reconsider KPMG LLP's arbitration request in a dispute over the accounting firm's audit of three funds that invested in Bernard L. Madoff's Ponzi scheme.

Investors in the funds, which were managed by Tremont Group Holdings Inc. and Tremont Partners Inc., said they lost millions of dollars to Madoff's massive scam, in part, because KPMG failed to spot the fraud.

Investors accused the accounting firm of negligent misrepresentation, professional malpractice, aiding and abetting a breach...
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