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NEW YORK (Reuters) - The billionaire hedge fund manager Thomas Sandell has paid $105 million in back taxes and damages to settle charges he defrauded New York state and New York City out of taxes on a decade s worth of fees, officials said on Tuesday.
Sandell, a principal at Sandell Asset Management Corp, did not admit or deny wrongdoing in settling claims by state Attorney General Letitia James and New York City Corporation Counsel James Johnson, who jointly announced the settlement.
The claims arose from Sandell s having deferred paying taxes on $450 million of management and performance fees he earned from overseeing offshore hedge funds from 1998 to 2008.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Kirby McInerney Announces $105 Million Settlement of NY Tax False Claims Act Whistleblower Case
March 2, 2021 GMT
NEW YORK (BUSINESS WIRE) Mar 2, 2021
The law firm of Kirby McInerney LLP announced today a $105 million settlement in a case the firm filed on behalf of its whistleblower client against hedge fund billionaire Thomas Sandell and his business Sandell Asset Management Corporation. The settlement is the largest income tax recovery under the New York False Claims Act.
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“This settlement is a great win for the people of the State of New York. It not only achieves a big recovery for the state’s taxpayers, but it also shows that whistleblowers can effectively help catch tax cheats so that the burdens of funding the government don’t just fall on people who follow the rules,” said Kirby McInerney partner Randall Fox, who was the lead lawyer on the case.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Infinity Q Diversified Alpha Fund ("Infinity Q" or the "Company") (NASDAQ: IQDAX, IQDNX) securities from December 21, 2018 through February 22, 2021, inclusive (the "Class Period"). Investors have until April 27, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
23.02.2021 - The law firm of Kirby McInerney LLP is investigating potential claims against Ebix, Inc. (“Ebix” or the “Company”) (NASDAQ: EBIX). The investigation focuses on the Company’s possible violations of federal securities laws. On February 19, 2021, after .