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Employees to receive their pay that was cut from May 1 to Aug. 1 as of Oct. 19. "Citrin Cooperman" is the brand name under which Citrin Cooperman Advisors LLC and Citrin Cooperman & Company, LLP, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. I cover all things Wall Street, personal finance and investing, people and their money. You were treated as a professional. Will be used in accordance with our terms of service & privacy policy. which joined Citrin Cooperman in 2022. Track your investments 24 hours a day, around the clock from around the world. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia. This will mark . Law360, New York (March 4, 2014, 4:35 PM EST) -- Multistate accounting firm Citrin Cooperman & Co. LLP and one of its partners were sued on Friday for fraud and theft, with several businesses. Company Type For Profit. By your submission of information in this form, you are consenting to our collection, use, processing and storage of your information in accordance with Citrin Coopermans privacy policy. (Podcast). Citrin Cooperman has repeatedly resisted the Brodies demands to prepare tax returns that we believe would violate our professional standards and government regulations, the accounting firm said. She is currently an accountant for a Boys Scouts organization in Bucks County, according to the groups website. The Judge overseeing this case is Eileen Rakower. from 8 AM - 9 PM ET. Last Funding Type Private Equity. [ NEW] CohnReznick They insist that Citrin file the forms it prepared. The case status is Pending - Other Pending. "Citrin Cooperman strongly refutes the attack made against our firm and several of our partners by the principal shareholders of Purolite. Instead, they have not only abjectly failed to meet their professional obligations but also conducted themselves in a shockingly unethical manner, including forging my signature. Both victims have sued Weber and Citrin Cooperman to recover their money. Law360 (April 24, 2020, 6:10 PM EDT) -- A Philadelphia-area chemical company has slapped Citrin Cooperman & Co. with a lawsuit in state court alleging it suffered millions of dollars in. By your submission of information in this form, you are consenting to our collection, use, processing and storage of your information in accordance with Citrin Coopermans privacy policy. DocketAFFIRMATION/AFFIDAVIT OF SERVICE (Motion #001) Affirmation of Service of Order to Show Cause dated November 16, 2020 and supporting papers, and Verified Petition; Filed By: Librera, K.; Filed: 11/19/2020; Received: 11/19/2020, DocketORDER TO SHOW CAUSE (Motion #001) seal; Filed By: Court User; Filed: 11/16/2020; Received: 11/16/2020, DocketADDENDUM - COMMERCIAL DIVISION (840C) (Motion #001); Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketRJI -RE: ORDER TO SHOW CAUSE (Motion #001); Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketMEMORANDUM OF LAW IN SUPPORT (Motion #001) Petitioner's Memorandum of Law in Support of Petition to Compel; Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketMEMORANDUM OF LAW IN SUPPORT (Motion #001) Memorandum of Law in Support of Petitioner's Application to Seal; Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketAFFIDAVIT OR AFFIRMATION IN SUPPORT OF PROPOSED OSC/EXPARTE APP (Motion #001) Affirmation of William M. Sunkel in Support of Petitioner's Application to Seal; Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketORDER TO SHOW CAUSE - ACCOMPANYING COMMENCEMENT DOC(S) (PROPOSED) (Motion #001) Order to Show Cause; Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketEXHIBIT(S) - C *Corrected* Filed Under Seal; Filed By: Librera, K.; Filed: 11/09/2020; Received: 11/12/2020, DocketEXHIBIT(S) - B *Corrected* Filed Under Seal; Filed By: Librera, K.; Filed: 11/09/2020; Received: 11/12/2020, DocketEXHIBIT(S) - A *Corrected* Filed Under Seal; Filed By: Librera, K.; Filed: 11/09/2020; Received: 11/12/2020, DocketPETITION *Corrected* Verified Petition; Filed By: Librera, K.; Filed: 11/09/2020; Received: 11/12/2020. Our Website Uses Cookies. Certain returns hadnt been filed, and that came to light., After they terminated us, we gave them copies of everything they asked for., At that time, he said, it was Citrins opinion that Purolite owed a lot more tax than they filed because of its off-shore affiliates. Stefan Brodie (shown here), and brother Don Brodie, founded Purolite in 1981. Widower says UPMC-affiliated facility was negligent in causing his wife's fall and later death, Pittsburgh business that sued neighbor and sewer authority over its flooded basement, receives stay, Pittsburgh man says building owner's negligence led to him suffering spinal fracture, Terre Hill man says his home was infested with bed bugs after buying defendant's mattress, Health care company's bankruptcy proceedings leads to stay of man's MRSA infection suit. Our In Focus Resource Center provides insights on real-time, relevant, strategic, and tactical business issues and trends to help keep you in front of what's happening in your industry and the market. The company and its lawyers wouldnt provide a copy of the Skadden opinion. The Newsletter Bringing the Legal System to Light. He also devotes a portion of his practice time to commercial litigation supporting ongoing firm engagements in damage analysis and has provided expert testimony. Inexplicably, Citrin has refused to do so and continues to obfuscate in a blatant attempt to cover up its wrongdoing, Brodie said in a statement. The partners of Citrin Cooperman issued a statement in response to a press release sent to numerous outlets by the principal shareholders of a former client, Brotech Corporation doing business as Purolite Corp., describing an ongoing litigation. He knew he had my confidence, but he is a pathological liar, the neighbor, Jordan Bardach, told Manhattan Supreme Court Justice Gregory Carro at an emotional sentencing hearing. Purolite makes absorbent resins, tiny beads that purify water and decontaminate solutions for the drug, food, semiconductor and power industries. Brodie continued, To add insult to injury, Citrin concealed their failure to file our returns, while continuing to work with us and pretending that they had fulfilled all filing obligations. Complaint Contact Us Florida (Main) Office 4450 NW 126th Avenue Suite 101 Coral Springs, Florida 33065 Phone: (954) 516-6000 Maryland Office View Full Firm Disclosure. Among those accused in Canadian investor Surefire Dividend's civil lawsuit are Smith, auditor Sanville & Co., fund administrator Nottingham, and alleged coconspirator Iregui, who vouched for her strategy and helped persuade Surefire to invest roughly $46 million. The same holds true for being a good leader. About Citrin Cooperman: Citrin Cooperman is among the largest, full-service assurance, tax, and business advisory firms in the United States, having steadily built its business serving a diverse and loyal clientele since 1979. The lawsuit chronicles Citrin's blatant incompetence, intentional concealment and extreme bad faith, which resulted in Purolite's unwitting failure to meet its tax filing obligations. Purolite executives say they find that absurd, noting that Citrin assembled the documents it is now criticizing. The lawsuit claims that King of Prussia, Pa.-based Internet Fitness LLC and Internetfitness.com Inc., have failed to compensate the plaintiff for . Court documents are not available for this case. This case was filed in New York County Courts, Supreme Court Civil Term located in Washington, New York. Washington, D.C. (202) 852-6000, Targum, et al. After the Brodies posted their searing letter on their website in February, Citrin lashed back the following month. Citrin compounded its misconduct by concealing its failure to file the relevant returns and hampering Purolites efforts to mitigate the harm Citrin caused by refusing to provide necessary records in its possession so that Purolite could belatedly file returns and related tax forms with governmental entities. Our Year in Review looks back on how pivots, staffing challenges, record-breaking M&A activity, and cybersecurity shaped our industries and future. Furthermore, since our discovery of Citrins malfeasance, they have blatantly and repeatedly dissembled and hid the information we need to belatedly file the returns in question which has exacerbated our damages. The specific charge: The companys accountants had failed to properly file Purolite tax returns and in some years, failed to file returns at all from 2010 to 2017. He turned out to be a sociopath, a charlatan and a con artist. Targum now spends sleepless nights, he said, worrying about losing his home and providing for his wife and children. As recently as a week ago, Purolite requested that Citrin Cooperman prepare tax returns on Purolite's behalf taking positions that the firm does not agree with. The revelations of these crimes have shattered my being, Targum angrily told the judge. Purolites founding partners have consistently paid all of the taxes that Citrin Cooperman advised were owed, including for the years for which Citrin Cooperman failed to file the corporate tax returns. Phone and email messages went unanswered. We use necessary cookies to make our site work. Contact Email mfagan@citrincooperman.com. The hardest hit victim was attorney Andrew Targum, whod known Weber 30 years and trusted him with his money since 1990, losing $828,128, some of which Weber admitted taking to pay country club fees. Citrin's malfeasance caused Purolite to suffer substantial harm and required the company to hire new accountants and lawyers to remedy the breach the accounting firm caused. The dispute centers on a complex part of the U.S. tax code known as Section 956, which is known as a minefield among tax practitioners, said Alice Abreu, professor of law and director of the Temple Center for Tax Law and Public Policy. This was done under their umbrella, in their offices, on their computers, and through their negligence, Bardachs lawyer, Robert Georges, told reporters. Our website requires acceptance of our cookie policy in order to successfully Good business advisory starts with being a good listener. Add the rest of your contact information below and select which topics are of interest to you. Purolite has engaged a public relations firm to place false negative and misleading digital advertisements on multiple social media platforms targeting Citrin Cooperman's employees, clients, and others affiliated with the firm. Finally, one place to get all the court documents we need. This has long been a vexing issue. Purolite's history demonstrates their propensity for wrongdoing. from 8 AM - 9 PM ET. Thats when Purolite learned that individual returns hadnt been filed for years. Our firm has successfully built our business and our reputation for over 40 years since starting the business in 1979 and today have over 40,000 satisfied clients. Join us on our journey in assessing the past year so we canaccess the future. 2023 NYP Holdings, Inc. All Rights Reserved. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Sylvie Gadant, Partner and Transaction Advisory Services (TAS) Practice Leader, Citrin Cooperman: Valuation multiples have remained healthy, despite the pandemic, as the demand for well-run. View Full Firm Disclosure. "Citrin Cooperman" is the brand name under which Citrin Cooperman Advisors LLC and Citrin Cooperman & Company, LLP, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. 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Negotiated favorable resolutions for clients in lawsuit alleging fraud, professional negligence, and failure to supervise accountant criminally convicted of stealing nearly $1,000,000 from clients. It operates a large office in Center City Philadelphia. This new claim was added to the eight-count complaint Purolite and the Brodies filed against Citrin and its principals in April 2020 alleging, among other things, fraud, gross negligence and breach of contract. 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