Global auditing firm KPMG’s U.S. arm has won the dismissal of a $1.1 billion Delaware lawsuit accusing it of negligence in audits of Citigroup and now-bankrupt Mexican oil drilling company Oceanografia SA.
Vice Chancellor Morgan Zurn, of the Delaware Chancery Court, ruled Friday that the plaintiffs - a group of creditors, bondholders and business partners of Oceanografia - had failed to allege facts that would make New York-based KPMG US liable for the actions of Mexico-based KPMG Cardenas Dosal, also called KPMG Mexico.
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