Purolite Issues Statement Regarding Citrin Cooperman’s Failure to Address Malpractice

March 31, 2021 12:05 PM EDT

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KING OF PRUSSIA, Pa.--(BUSINESS WIRE)-- Purolite Corp. (“Purolite”) today issued the following statement in response to Citrin Cooperman’s recent false and misleading press release:

“Citrin Cooperman continues to obfuscate and disseminate false and misleading information in a futile attempt to protect its reputation and further damage a former client that placed its trust in the firm and its partners for decades.

“What Citrin intentionally failed to disclose in its press release is that Purolite is suing the firm for failing to file its corporate returns and foreign information schedules for five consecutive years. Citrin has offered no explanation for its gross malpractice. Instead, Citrin now seeks to shift the blame to the injured party, Purolite, by suggesting that the returns were not filed because Purolite requested that Citrin prepare the returns in violation of applicable regulations.

“Nothing could be further from the truth. Purolite has not asked Citrin to falsify tax returns and would never do so. Purolite was not asking Citrin to take any position different than Citrin has taken consistently in the past or one that does not have a reasonable basis. Citrin prepared and filed tax returns for Purolite’s shareholders that were consistent with its past practice and advice in the years that it failed to file Purolite’s corporate returns. Moreover, in those same years, Citrin prepared, but negligently failed to file, Purolite’s corporate returns -- and now refuses to file the prepared returns.

“Purolite encourages Citrin’s clients to read the complaint filed by Purolite to learn the facts: https://pdfhost.io/v/zWYQ84DSm_PuroliteAmendedComplaint.pdf. The truth is that Citrin deceived Purolite by representing that it had prepared and filed corporate returns, failed to make critical elections for Purolite, and gave Purolite and its founders advice that Citrin now seeks to disavow.

“There are fundamental questions Citrin cannot escape:

  1. Why did Citrin fail to file Purolite’s tax returns for five straight years and falsely state that the filings were made?
  2. Why did Citrin fail to make critical tax elections for Purolite that exposed the company to the loss of significant tax deferrals?
  3. Why won’t Citrin admit that it filed the Brodies’ personal tax returns on the basis of advice that it now publicly disavows?
  4. Why isn’t Citrin taking any responsibility for its gross malpractice?
  5. Why is Citrin engaging in a cover up and smear campaign?

“What are the answers, Citrin?

“Purolite continues to be shocked and dismayed by Citrin’s conduct, including the continuing attacks on Purolite’s reputation to deflect attention from Citrin’s unconscionable behavior. Is this how a professional firm should address its gross negligence? Purolite is the injured party and seeks only that Citrin admit and promptly correct its malpractice and fairly compensate Purolite for the ongoing injury made worse by its recent actions. Purolite will vigorously pursue its litigation against Citrin Cooperman and intends to pursue all legal remedies available.”

About Purolite Corporation

Purolite Corporation is a leading manufacturer of life science products, ion exchange, catalyst, adsorbent and specialty resins for water and non-water applications. Headquartered in King of Prussia, Pennsylvania with 40 sales offices in more than 30 countries, the company has ISO 9001 certified manufacturing facilities in the USA, United Kingdom, China and Romania. It operates dedicated R&D centers in the USA, China, Romania, Russia and the UK. Please visit www.purolite.com for more information.

Sard Verbinnen & Co
George Sard/Ellen Davis/Gloria Labbad
Purolite-SVC@sardverb.com
(212) 687-8080

Source: Purolite Corp.



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