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NCP LITIGATION TRUST v. KPMG

945 A.2d 132 (2007)

399 N.J. Super. 606

NCP LITIGATION TRUST, Plaintiff, v. KPMG, Defendant.

Superior Court of New Jersey, Law Division.

Decided June 22, 2007.

Attorney(s) appearing for the Case

Karen A. Denys, and Vincent Gentile, Princeton (Drinker, Biddle & Reath, LLP, attorneys) and Mitchell A. Karlan, New York, NY (Gibson, Dunn & Crutcher, LLP, attorneys) of the New York bar, admitted pro hac vice, for defendant.

Allyn Z. Lite, and Bruce Greenberg, Newark (Lite, DePalma, Greenberg & Rivas, LLP, attorneys) and James G. Flynn (Harwood Feffer, LLP, attorneys), of the New York bar, admitted pro hac vice, for plaintiff.

WINARD, J.S.C.

This action against defendant, KPMG LLP ("KPMG"), arises out of the demise of Physician Computer Network, Inc. ("PCN"), which once developed, marketed, and supported practice management software products for physicians. On December 7, 1999, after a series of disclosures about its accounting practices, which resulted in a spiraling cash flow deficit and default on its bank debt, PCN filed for bankruptcy under Chapter 11 of the United States Bankruptcy...

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