KPMG Wants Credit Suisse Suit Tossed After Cheating Case Dropped

KPMG LLP should be removed from an investor suit accusing former Credit Suisse leaders of mismanagement now that criminal charges have been dismissed in a separate case involving the auditor, the firm argued in a court filing Tuesday.

Federal prosecutors in December dismissed fraud charges against KPMG’s former national managing partner for audit quality and a former employee of the US audit board for their role in a scheme to cheat on the firm’s regulatory inspections. The lack of a crime undercuts Credit Suisse Group AG investor claims that the audit firm violated racketeering laws, KPMG told Judge Colleen McMahon ...