Simmons & Simmons Leads $240M Case Against KPMG, Longest Trial in DIFC History
Investors, including the Bill & Melinda Gates Foundation, flagged problems with Abraaj’s healthcare funds, leading to allegations of financial misconduct.
December 17, 2024 at 06:56 AM
3 minute read
Simmons & Simmons is advising on a landmark $240 million claim brought by Abraaj Group liquidators against its former KPMG auditors in what is set to be the longest case in the 20-year history of Dubai’s DIFC Courts.
The liquidators for Abraaj are suing KPMG and KPMG Lower Gulf over alleged financial impropriety leading up to the 2018 collapse of the Middle East’s largest private equity firm.
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J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
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Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
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