Vanguard Tax Fraud Suit Axed Over Attorney Ethics Breach

Law360, New York (November 18, 2015, 5:26 PM EST) -- A New York state judge has dismissed a suit by former Vanguard Group Inc. tax attorney David Danon claiming the investment manager has avoided more than $1 billion in federal taxes and at least $20 million in New York taxes through price manipulation, saying Danon broke ethics rules.

As a former in-house tax counsel for Vanguard, Danon is prohibited from disclosing the company's confidential information under the New York state attorney ethics code and may not proceed with the suit, Judge Joan A. Madden said in...
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