Tax Deductible

The Associated Press has a column deploring the tax deductibility of securities class action settlements.

Quote of note: “For some companies, federal and state tax deductions will amount to as much as 40 cents on every dollar they pay to settle investors’ claims. And given all the major settlements announced this year from the likes of Time Warner Inc., Citigroup Inc., JPMorgan Chase & Co. and many others, that quickly adds up.”