An appeals court judge has affirmed that KPMG should not be held liable for malpractice under Illinois law after one of its audit clients acquired a dot-com company and subsequently went bankrupt.

The case involved IT consultancy Whittman-Hart, which acquired US Web/CKS in March 2000, and subsequently changed its name to MarchFirst. Whittman-Hart paid the owners of US Web $7 billion in an all-stock deal, but 13 months after the acquisition it declared bankruptcy.

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