KPMG To Face Investor Class Action Over Miller Energy Audit
Law360 (May 7, 2021, 8:28 PM EDT) -- Accounting giant KPMG will have to face a certified class's claims that it helped the now-defunct Miller Energy Resources Inc. falsify financials about oil and gas assets, a Tennessee federal judge ruled Friday.
U.S. District Judge Thomas A. Varlan overruled KPMG's objections to a federal magistrate judge's report recommending certification for the class of Miller Energy investors, despite the auditor's assertion that it had, among other things, rebutted the presumption that all members of the class had relied on its public statements when deciding to invest.
"Defendant therefore fails to identify what was in error about [the magistrate judge's] reasoning, or...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!