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Litigation

Oct. 15, 2008

Accounting Giant Must Pay $31.8 Million in Negligence Case

KPMG must pay a former Corona company $31.8 million under a jury verdict in which Newport Beach lawyers accused the Big Four accounting firm of failing to disclose bookkeeping irregularities in an audit of a business the company acquired.

By Jason W. Armstrong
Daily Journal Staff Writer

RIVERSIDE - KPMG must pay a former Corona company $31.8 million under a jury verdict in which Newport Beach lawyers accused the Big Four accounting firm of failing to disclose bookkeeping irregularities in an audit of a business the company acquired.

Plaintiffs' lawyers in the case said they believe the verdict, reached Friday by a New Jersey jury, is the largest monetary award ever against KPMG. Th...

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