PwC Again Asks Out Of Securities Class Action

Law360, New York (May 27, 2010, 4:03 PM EDT) -- PricewaterhouseCoopers LLP has asked a court to reconsider its failed bid to for dismissal from a class action accusing it and other lenders of securities violations during the housing market crash, saying the complaint clearly fails to allege willful misrepresentation by PwC.

Lead plaintiffs Public Pension Fund Group attribute only one false statement to PwC and fail to allege scienter, making it indisputable that the complaint falls short of pleading standards for accounting firm defendants, according to a reconsideration motion filed Wednesday in the U.S. District...
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