KPMG Can't Get Fraud Suit Over Rangers Audit Tossed

Law360, New York (September 10, 2012, 10:17 PM EDT) -- A New York state judge on Friday refused to toss a suit alleging that a 2008 audit by KPMG LLP allowed Dallas private equity investor and former Texas Rangers owner Tom Hicks to cheat lenders out of $525 million in debt.

Judge Barbara R. Kapnick refused to dismiss claims of fraud, aiding and abetting fraud and civil conspiracy made by lender GSP Finance LLC, which says KPMG shifted assets around while preparing an audit for Hicks Sports Group LLC so Hicks wouldn't exceed a $600 million...
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.