Shalam v. KPMG LLP

In Shalam v. KPMG LLP, 43 A.D.3d 752 (1st Dep't 2007) the Appellate Division affirmed the trial court's holding that the plaintiff-investor had standing to sue to recover monies paid to accountants by the venture firm in which the plaintiff was invested. Id at 753. Plaintiffs overlook the fact that in Shalam, the plaintiff could pursue direct claims as it had alleged a "separate wrong" that injured only the plaintiff. Id.