PwC Gets Claims It Hid Madoff Warnings Nixed By 2nd Circ.

Law360, New York (May 18, 2012, 3:22 PM EDT) -- An investor who poured $60 million into a Madoff feeder fund on Friday lost an appeal in the Second Circuit seeking to revive claims that the fund's auditor, PricewaterhouseCoopers LLP, knew about but failed to disclose obvious red flags.

A three-judge panel issued a summary order affirming a New York federal judge’s decision to toss the suit in March 2011. Plaintiff G. Philip Stephenson claimed he lost his investment with Greenwich Sentry LP, a Connecticut-based fund that directed almost of all of its money to Madoff's...
To view the full article, register now.