CORRECTED: KPMG, Investors Reach Settlement In Countrywide Suit

Law360, New York (December 23, 2011, 4:23 PM EST) -- Financial advisory and tax firm KPMG LLP reached a settlement Thursday with institutional investors in a larger suit in California federal court alleging that former mortgage giant Countrywide Financial Corp. made false statements about its lending standards and home loan equity.

Terms of the settlement were not disclosed. A spokesman for Bernstein Litowitz Berger & Grossmann LLP, which represents the investors, said the case was settled with KPMG prior to a voluntary dismissal.

U.S. District Judge Mariana R. Pfaelzer approved the parties' joint motion for dismissal...
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