KPMG (Bermuda) suspects class action plaintiff may have received illegal payment

By David Marchant

18 years ago

Topics

Bermuda Fraud Insurance Investment Listed Securities

USA

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Keywords

Annuity & Life Re Bermuda Insurance Market Brian OHara Communications Workers of America David Bershad

Frederick Hammer John Burke KPMG Lawrence Doyle Michael Esposito Midstream Investments Ltd. Milberg Weiss & Bershad Steven Schulman Thomas Carr William Atkin XL Capital

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Did a major U. S. law firm illegally pay a Bermuda-based investment firm to serve as lead plaintiff in a class action lawsuit against KPMG (Bermuda) regarding its audits of Annuity & Life Re (Holdings) Ltd.?That’s what KPMG wants to know before discovery winds up in an action at the U. S. District Court for the District of Connecticut. However, rather than answer that and other questions, the investment firm, Midstream Investments Ltd., has filed an eleventh-hour motion to withdraw from the case entirely and for a protective order to avoid being forced to provide evidence.

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