Malaysia, 1MDB seeking more than US$5.6bil in damages


KUALA LUMPUR (Reuters): Malaysia's government and state fund 1Malaysia Development Berhad (1MDB) are seeking over US$5.6 billion in damages from 44 current and former partners of KPMG for alleged breaches and negligence linked to a corruption scandal at the fund, court documents seen by Reuters showed.

Audit firm KPMG on Friday denied the allegations and pledged to "vigorously" contest the suit filed against 44 current and former partners and linked to its audit of 1MDB's financial statements between 2010 to 2012.

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