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 Partners Slapped With Record Fines In Xerox Case

Law360 (February 22, 2006, 12:00 AM EST) -- All four remaining defendants in an action brought against Big Four auditing firm KPMG in connection with a $1.2 billion fraudulent earnings manipulation scheme at office hardware company Xerox Corp. have agreed to pay record-setting fines to settle a January 2003 action against them.

The U.S. Securities and Exchange Commission this week confirmed that three of the four former and current partners agreed to permanent injunctions, payment of record civil penalties and suspensions from practice before the SEC with rights to reapply in one to three...
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.