KPMG’s $35 Million Deal to End Miller Energy Suit Gets Final Nod

KPMG LLP’s $35 million settlement to resolve a 2016 securities lawsuit claiming its audit failures allowed Miller Energy Resources to misrepresent the value of key Alaskan oil and gas assets won a federal court’s final approval.

Class counsel for the investors are still negotiating how they will share their $11.7 million fee award, however.

Judge Thomas A. Varlan, for the US District Court for the Eastern District of Tennessee, ordered Cohen Milstein Sellers & Toll PLLC and Gordon Ball LLC to mediate the fee dispute in good faith within 60 days.

Magistrate Judge Debra C. Poplin will oversee that particular ...