Splitpin, maybe an out of court settlement, a time and money saver.
The old saying ' you can bring the b......ds to court, but not to justice '
Tuesday, January 21, 2014
Accounting giant KPMG and investors seeking nearly $500 million in damages caused by the firm’s fraudulent tax shelters settled a suit a week before it was to be tried in Fulton county State court.
The case was one of the last—and largest— Georgia outgrowths from KPMG's admission in 2005 that it sold the bad shelters—and paid the U.S. Department of Justice hundreds of millions of dollars to avoid criminal charges.
The amount of the settlement is confidential, but James Butler Jr. of Butler, Wooten & Fryhofer said his client, who was seeking more than $281 million in damages and more than $200 million in the lost value of the company he claimed KPMG enticed him into selling, “is very pleased with the settlement.”
“It's the most difficult, most challenging case and the most fun I've had in 36 years of practicing law,” said Butler, who’s had a hand in many major verdicts.
Butler’s co-counsel, Bondurant Mixson & Elmore partner H. Lamar “Mickey” Mix- son, said his firm and Butler Wooten had worked together years earlier on an unre- lated case, Six Flags v. Time Warner, which resulted in a $454 million verdict.
OCV
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