After 14 months of negotiations, law firm Jenkens & Gilchrist PC, based here, has agreed to pay $81.55 million in a class-action settlement to put claims related to its tax shelter work behind it.

The final settlement, announced this week, is $6.55 million more than the initial settlement announced in April 2004. Jenkens & Gilchrist also agreed to settle even though some members of the class elected to opt out of the settlement. Under the initial settlement, the firm had retained the right to terminate the settlement if any class members elected to opt out.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access