What True Partners did
True Partners defended a client in an unclaimed property ("UP") audit conducted by a third-party contract auditor with 31 participating states. The audit work spanned a total of 10 years, two state contract audit firms, and covered a 23 year audit look-back period. The initial potential liability was estimated at > $100 million. True Partners worked with the client, outside counsel, and the auditor to bring the audit to conclusion in spite of numerous legal issues, limitations on retrieving available documentation, and a change in the contract audit firm mid-way through the examination. The final audit finding for the 31 participating states was $17 million. True Partners was instrumental in settling an additional $20 million due to jurisdictions not participating in the audit.