The administrator of MF Global has agreed to a short delay in its $3bn malpractice suit against PwC, which it accuses of sanctioning a scheme that allowed the company to amass ruinous amounts of.
The Corpse Of MF Global Says PwC Should Pay $3 Billion For Bad Advice A federal judge on Wednesday ordered PricewaterhouseCoopers to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the october 2011 bankruptcy of MF Global.
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MF Global and PwC to Face Off in $3 Billion malpractice lawsuit. lawsuit claims PwC’s accounting advice helped bring down the commodities brokerage in 2011. Accounting firm PricewaterhouseCoopers LLP is facing a lawsuit alleging MF Global’s reliance on its advice contributed to the firm’s collapse.
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Abby Lee Miller Sentenced to One Year and One Day in Prison for Bankruptcy Fraud. The former reality star was also sentenced to two years of supervised release and fined $40,000 and ordered to pay a $120,000 judgement, local news reports.
Terms of the settlement were not disclosed. MF Global’s bankruptcy administrator had sought $3 billion in damages and interest from PwC in the case, which was in its third week of trial in federal court in New York. MF Global contended that PwC had given it the wrong advice on how to account for risky european-debt trades.
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Hedge funds reach for gold in MF Global lawsuit against PwC By. could lead to more than $3 billion in damages against PwC if a jury agrees the auditor’s advice to MF Global over how to.
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