Company Sues Delaware and Auditor Over Unclaimed Property Estimation Method

Overview


Stephen Kranz said that a lawsuit against the state of Delaware and a third-party auditor, alleging that a method to determine unclaimed property liability is unlawful and unconstitutional shows that “there is a systematic problem here that needs to be fixed, and if the executive branch won’t fix it, it is up to the legislative branch or the court. They utilize an extrapolation methodology that leads to a proposed liability completely out of whack with the true economic activity that takes place in Delaware.”