Accounting News

Friday, December 14, 2007
Judge Dismisses KPMG Malpractice Suit

A malpractice suit filed against KPMG by JoAnn Tredennick has been dismissed by a Pennsylvania judge. The suit was a result of work done by KPMG for Resco Products. KPMG advised Resco on strategies to limit the tax burden of the stockholders which turned out to be incorrect. Tredennick held a 92% share of Resco at the time of the sale.

The judge threw out the case because KPMG was hired by Resco and not Tredennick so she has no grounds for malpractice.

Labels: ,