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Category Archives: Wall Street Journal

Wall Street Journal

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 its alleged failure to catch the massive fraud that led to one of the most expensive bank failures in U.S. history. Continue Reading

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Wall Street Journal

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 2009, the largest damages award ever made against an accounting firm. A court on Monday ordered that PwC pay…

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