We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

KPMG, Sidley, Proskauer Hit With Tax Shelter Suit

Law360 (October 15, 2007, 12:00 AM EDT) -- A group of funds have launched a new lawsuit against accounting firms KPMG LLP and Grant Thornton International and law firms Proskauer Rose LLP and Sidley Austin LLP, accusing them of conspiring with others to lure them into a tax shelter that proved to be illegal.

The lawsuit, lodged on Friday in the U.S. District Court of Southern Texas, alleges that KPMG approached the plaintiffs with a strategy to claim small gains and large losses for tax purposes and that GTI, the two law firms and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.