Federal Court dismisses accounting firm from suit that
alleges misleading of oil company investors. On September 20, a New Jersey
federal court granted a motion to dismiss a second amended complaint filed by
accounting firm, KPMG; the court found that the pleadings failed to specify in
what way KPMG had taken part in an alleged plot to improperly book proven oil
reserves of Royal Dutch Petroleum Co., and Shell Transport and Trading Co. The
complaint generally averred that, between 1998 and 2004, the defendants had put
out materially false and misleading statements about the reportedly proved
foreign oil and gas reserves of the two companies. Oil company investors had
filed the January 2004 lawsuit claiming that the actions of many defendants,
including KPMG, contravened Section 10(b) of the Securities and Exchange Act of
1934. Citation: FindLaw, New Jersey, Wednesday, September 20, 2006
(byline of Chip Giambrone, Correspondent for Andrews Publications).
**** Mr. Richard Ehrlich is a specialist in Corporate, Estate and Personal Financial Planning in Florida. In the course of his career, he has prepared hundreds of estate plans and helped hundreds of small businesses navigate the various issues involving insurance, retirement and employee retention. He has helped numerous families deal with the difficulties of taking care of elderly relatives and assisted with all of their long-term planning and long-term care needs. Finally, he has helped investors with their losses in unsuitable investments. LinkedIn Profile: https://www.linkedin.com/in/richard-ehrlich-777b513/; Attorney Profile: http://www.eldercounsel.com/profile/richard-ehrlich-ehrlich-law-center-pa/; Attorney Profile: https://solomonlawguild.com/richard-ehrlich%2C-esq; Attorney News: https://attorneygazette.com/richard-ehrlich%2C-esq#c35a1098-f039-43ab-b0dc-06cff6dabf61
