Saturday, May 08, 2010

KPMG Settles Countrywide Suit With $24 Million

KPMG will pay $24 million and Countrywide will pay $600 million to settle a class action securities lawsuit by New York state's retirement fund and five New York City public pension funds to recover investment losses. KPMG was the auditor for Countrywide, and Countrywide itself was purchased by Bank of America in 2008, which will eventually pay the amount...

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