Kaufman Rossin settles Petters lawsuit. July 26, 2010. By Paul Brinkmann July 26, 2010 Miami-based accounting firm Kaufman Rossin & Co. has reached a settlement in a malpractice lawsuit that claimed it failed to detect fraud connected to the $3.65 billion Minneapolis-based Ponzi scheme of Tom Petters. Kaufman was sued last year by two West Palm Beach hedge funds that lost money in the Petters fraud, Palm Beach Finance Partners I and Palm Beach Finance Partners II. The settlement, which is based on Kaufman’s insurance coverage, amounts to about $9.6 million, said a spokesman for Michael Budwick, bankruptcy attorney for the Palm Beach funds. The settlement also includes a bar order that would prevent the debtors or creditors in the bankruptcy from making similar claims. Kaufman had faced similar allegations in an aborted class action attempt last year. Janet Altman, marketing principal at Kaufman, said via email Monday that the firm had no comment on the settlement. A signed agreement describing the settlement was filed with the U.S. Bankruptcy Court in Palm Beach County on Monday, as part of a lawsuit in the bankruptcy of the Palm Beach funds, which was dismissed. Neither party has admitted fault. . Eric Ostroff, Other NewsBillionaire, fund manager buy Coconut Grove properties out of bankruptcy, November 9, 2017, BMO Harris Socked With $24B Suit Over Petters Ponzi Scheme, September 18, 2014, BMO Harris To Pay $16M To End Petters Ponzi Row, July 16, 2015, Archive. July 2024 June 2024 March 2024 November 2023 April 2023 January 2023 November 2022 June 2022 May 2022 . MRB. Contact us, Our attorneys, careers. About. Firm overview, Our Values, Community involvement, Representative matters. Pracrtice. Real Estate, Commercial Litigation, Receiverships and Assignments, Bankruptcy and Restructuring. In the News, Announcements, Film Videos. 2018 Meland, Russin, Budwick. ALL RIGHTS RESERVED.