Mass. Justices Revive Claims KPMG Missed Signs Of Fraud
Law360 (September 27, 2018, 5:56 PM EDT) -- Massachusetts' highest court reopened a consumer protection case against KPMG LLC on Thursday, ordering a state trial judge to reconsider whether the Big Four accounting firm is liable for failing to catch a $6 million fraudulent student-loan scheme during years of auditing finances at Merrimack College.
The Massachusetts Supreme Judicial Court determined that KPMG should not have been granted summary judgment under the doctrine of in pari delicto, which holds both sides accountable, because Merrimack was not vicariously at fault for its director of financial aid secretly replacing students' grants and scholarships with loans. Former tuition aid director Christine Mordach later...
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