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
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
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.
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars
Tallat Mahmood appointed to corporate finance team of Top 20 firm