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Case ID: 3229 | Government | 01/13/2005
The parties have reached a tentative $75 million settlement in several class actions filed against law firms Ernst & Young International, Inc., Jenkens & Gilchrist, PC, Sidley Austin Brown & Wood, LLP, BDO Seidman, LLP, Pasquale & Bowers, LLP, Dermody, Burk & Brown, and Deutsche Bank AG, on behalf of persons who purchased allegedly faulty tax shelters from the companies. The actions alleged that the firms gave tax advice that was not approved by the IRS, leaving the purchasers in trouble with the government. Persons eligible to take part in the settlement should contact attorneys for the class.
Paul Daugerdas is a partner at the Dallas-based firm of Jenkins & Gilchrist, and was, until recently, the head of the 50-lawyer Chicago branch. He is also, according to the IRS, responsible for organizing and selling "listed" or "potentially abusive" shelters used by many people. Those are IRS buzzwords for shelters that violate the tax code. IRS regulations require tax shelter promoters to register their tax avoidance schemes and to keep a list of taxpayers who use them. In the spring of 2002, the IRS served 22 summonses on Jenkens, trying to find out if the firm was liable for failing to comply with those regulations. In particular, the summonses sought information about listed transactions and the names of the clients. The Internal Revenue Service continues to investigate shelter promoters, including accounting firms, banks and law firms. The U.S. Department of Justice has brought six enforcement actions, and is in courts around the country seeking the names of shelter users. Dockets are jammed with lawsuits by aggrieved taxpayers. The settlement will not be effective until the court grants it final approval. The court has not yet scheduled a hearing on the matter. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Government Cases of Interest The complete U.S. Internal Revenue Code contains more than 2.8 million words--printed 60 lines to the page, it fills almost 6000 letter-size pages. The classes in two related actions have been certified against the United States of America on behalf of retired Michigan public education employees who had Social Security taxes withheld from early retirement incentive plan payments in violation of federal tax regulations. A class action lawsuit has been filed in the Northern District Court of Georgia against Morris Brown College for violations of the Racketeer Influenced and Corrupt Organizations Act (RICO), which addresses the infiltration of legitimate businesses by organized crime. Class members seek damages, attorney's fees and costs of the litigation. Four Lake City residents have filed a class-action lawsuit against the city of Lake City that would force the city to put Sondra Fleming-Crosby and Lovith Anderson Jr. on council. A class action has been filed against John Ashcroft, the Department of Homeland Security and others for failing to issue documentation (green cards) to lawful permanent residents (LPRs) of the United States. Class members allege that the government’s inaction has caused them profound injuries such as the inability to attain employment and fear of being detained or deported. Class members seek mandamus (a command to perform a lawful duty), declaratory and injunctive relief. The case, filed in July of 2004, was granted class certification on October 14, 2004. A class action has been filed against body armor manufacturer Armor Holdings, Inc., on behalf of all persons, agencies, or entities that purchased, owned, have been issued, or possess vests containing Zylon, manufactured by Armor Holdings between April 7, 1999, and April 7, 2004. The action alleges that Zylon, the protective fiber used in the vests, deteriorates when exposed to heat and other conditions over time so that the vests lose their protective qualities. The debate about when a child's life begins has taken a new turn. A class action has been filed against the federal Office of Servicemembers' Group Life Insurance and Prudential Insurance Company of America on behalf of members of the armed services who purchased life insurance policies from Prudential through the office, but were denied coverage for a child of more than 20 weeks' gestation. |
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