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February 06, 2014
KPMG LLP and former Advanta Corp. executives will pay $3.55 million to settle a putative securities class action alleging the accounting firm, along the defunct credit card company’s directors, concealed dour financials from Advanta investors, according to a motion filed in Pennsylvania federal court Thursday. (Correction: An earlier story incorrectly reported the distribution of the settlement payments among the defendants. The error has been corrected.)
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