MOUNTAIN VIEW, CA (CelebrityAccess MediaWire) — A multi-million dollar lawsuit filed by the city of Mountain View, California, that alleges gross misconduct of public funds by accountants for Shoreline Amphitheatre, is headed to trial later this year.
The city alleges the main defendant, San Francisco-based accounting firm Daoro, Zydel and Holland, helped Live Nation hide millions of dollars in profits owed the city as part of the shed’s lease agreement.
The firm prepared financial statements for the amphitheatre operators, while also working for the city as independent auditors of those same statements, according to the Palo Alto Daily News.
The city claims the firm purposefully did not include several sources of income for Live Nation that would have increased the amount of rent owed the city.
Live Nation paid the city $10 million last year to settle a separate lawsuit related to the accusations of improper bookkeeping. The next trial date for the case is scheduled in late July. –by CelebrityAccess Staff Writers