KPMG moved a bit closer to putting another piece of its tax shelter troubles in the past, filing court papers that more than 200 investors have agreed to a settlement in a class-action lawsuit against the accounting firm and law firm Sidley Austin Brown & Wood LLP.
Of the 284 eligible investors, 55 did opt out of the settlement, down slightly from the 64 individuals who had forced the parties to shelve a $195 million settlement agreement in early February. With more than 80 percent of eligible participants now on board, spokespeople for KPMG and lawyers at Milberg Weiss Bershad & Schulman said that the settlement should now move forward without additional problems.
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