KPMG LLP to vigorously defend Poseidon Concepts litigation

TORONTO, July 8, 2014 /CNW/ - Siskinds LLP, Siskinds Desmeules and JSS Barristers today announced the filing of proposed securities class actions against KPMG LLP in Ontario, Alberta and Québec.

With respect to these legal actions taken relating to Poseidon Concepts Corp., we are confident that our services were provided in accordance with all applicable professional standards and the firm intends to strenuously defend the litigation.

While KPMG rejects the accusations and will vigorously defend itself in court, we have no further comment as the matter is currently before the courts.

About KPMG

KPMG LLP, an Audit, Tax and Advisory firm (kpmg.ca) and a Canadian limited liability partnership established under the laws of Ontario, is the Canadian member firm of KPMG International Cooperative ("KPMG International"). KPMG member firms around the world have 155,000 professionals, in 155 countries.

The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss entity. Each KPMG firm is a legally distinct and separate entity, and describes itself as such.

SOURCE KPMG LLP

For further information:

Kira Froese
National Manager, Communications
KPMG in Canada
416.777.8928
kjfroese@kpmg.ca