Corporations and securities brief ~ KPMG may be nearing settlement with DOJ

Corporations and securities brief ~ KPMG may be nearing settlement with DOJ

[JURIST] Leading Monday's corporations and securities law news, the Financial Times is reporting that the US Department of Justice is nearing a settlement with Big Four accounting firm KPMG [FT report]. KPMG has been under investigation for its creation and marketing of illegal tax shelters and in June, KPMG publicly accepted responsibility for the illegal actions [JURIST report] of some of its former employees. According to the story, KPMG will agree to between 12 and 18 months probation, an independent overseer and a fine that could top $500 million. Reuters has more.

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