Four lawsuits are resolved by KPMG Peat
Article Abstract:
KPMG Peat Marwick has settled four lawsuits related to the Orange County CA bankruptcy for about $75 million. The accounting firm had acted as the auditor for the county, which lost $1.6 billion because of bad investments. The county accused KPMG of failing to notice that about $150 million was illegally moved from the investment portfolio to other county accounts. The county also accused KPMG of neglecting to warn it of risky investments. The accounting firm gave no reason for settling the suits.
Comment:
KPMG Peat Marwick settles four Orange County-related lawsuits for about $75 million
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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U.S. prosecutors win an appeal to shield trade-secrets data
Article Abstract:
A Philadelphia federal appeals court ruled that federal prosecutors are not required to handover trade secrets to defendants in an economic espionage case. The case involved two men who were charged with attempting to steal the Taxol anticancer drug's secret formula. The drug is manufactured by Bristol-Myers Squibb Co. The Third US Circuit Court of Appeals overturned a previous ruling by a lower-court decision.
Comment:
Fed appeals court rules that prosecutors are not required to handover trade secrets to defendants in an economic espionage case
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Conviction is vacated by judge in collapse of Colonial Realty Co
Article Abstract:
The conviction of a former accounting partner in Arthur Andersen has been vacated by a federal judge. The judge made his ruling based on a lack of evidence for Edmund M. Autuori's role in the collapse of Colonial Realty Co. The real-estate syndicator closed down in 1990. In March 1998, Mr. Autuori was convicted on 16 counts of mail and wire fraud that was linked to the collapse of Colonial Realty.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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