|
|
28 Apr 2006
The majority of investors enticed into KPMG’s tax shelter schemes look set to accept a new compensation offer.
According to the New York Times, KPMG will pay about $150m (£83m) to 209 eligible investors if the deal is approved next month.
The revised settlement will give each investor an average of more than $700,000 (£388,000).
A deal offering $195m (£108m) in September collapsed after 64 of the 264 investors chose not to take part, saying the agreement did not offer them enough compensation.
The new deal is likely to see 76% of investors taking part, according to papers filed in the US District Court in Newark, New Jersey this week.
Last August, KPMG paid $456m (£253m) in a deferred- prosecution agreement with US prosecutors over certain tax shelter schemes.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment