PwC ordered to pay $625m over Colonial Bank collapse
Wall Street Journal US FDIC wins largest ever damages award against an accounting firm ALISTAIR GRAY – NEW YORK PwC has been ordered to pay $625m over its role auditing a US bank before its collapse in...
View ArticleAt heart of FDIC’s win v. PwC, an unsettled theory
By Alison Frankel Read the entire article at Reuters (Reuters) – The accounting giant PricewaterhouseCoopers is facing hundreds of millions of dollars in exposure to the Federal Deposit Insurance...
View ArticleDanon vs. Vanguard: Tax Whistleblower Wins a Round in Federal Appeals Court
by Joseph N. DiStefano, Staff Writer Read the article at the Philadelphia Inquirer Federal court in Philadelphia should reconsider tax lawyer David Danon’s complaint that he was fired by investment...
View ArticleMF Global administrator settles $3bn PwC lawsuit
Financial Times PwC has settled a $3bn malpractice suit with the administrator of its former client MF Global, the collapsed futures brokerage, halfway through a high-profile court battle in New York....
View ArticleCorzine Blames the Markets, and Confusion, for MF Global’s Collapse
Daniel Fisher Forbes Staff Read the Article at Forbes.com Former MF Global Chief Jon Corzine identified the villain behind the 2011 collapse of the commodities trading firm he once ran in court...
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PricewaterhouseCoopers Settles $5.5 Billion Crisis Era Lawsuit
Bankruptcytrustee sued accounting firm over failure to catch fraud at Taylor Bean. Accounting giant PricewaterhouseCoopers LLP has settled a $5.5 billion lawsuit in the middle of a weekslong trial over...
View ArticleThe Beach-House Lawyer Calling Big Auditors to Account
by Ben McLannahan, Financial Times Steven Thomas had enough cash to pay about three months of bills in 2007, when he quit Sullivan & Cromwell to set up on his own. Deserting the elite Wall Street...
View ArticleLitigator of the Week: Record $625M Award against PwC Proves You Don’t Need...
By Jenna Greene Stephen Sorensen scored the biggest damages award ever against a global public accounting firm, and broke new legal ground along the way. When Colonial Bank failed in 2009, it was—as...
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