July 24, 1989 |
The Drexel Burnham Lambert investment bank and Executive Life, a Los Angeles insurance firm, will pay about $30 million to settle a class-action lawsuit brought on behalf of 4,200 people who invested through a North Hollywood tax-shelter promoter that the two companies helped finance, according to court records and lawyers familiar with the case. The settlement is expected to be presented today for approval to U.S. District Court Judge A. Andrew Hauk in Los Angeles.
October 1, 2005 |
Big Four accounting firm KPMG and law firm Sidley Austin Brown & Wood have agreed to pay $195 million to investors to settle a lawsuit over questionable tax shelters. The class action centered on tax shelters sold by KPMG from 1996 to 2002. The same shelters were involved in KPMG's agreement in August to pay $456 million to settle a federal tax shelter investigation.