Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, February 2, 2007

Blips Illegal, Says Texas Court

A federal district court in Texas ruled that the aggressive tax shelters marketed by KPMG known as Blips were ilegal.  The first ruling on the legitimacy of this tax shelter, it is expected to give a boost to the New York prosecutors' case against the accounting firm.  See NY Times, Court Rejects Tax Shelter Once Sold by KPMG .

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