Judge Greenlights Class Action Against PwC

Law360, New York (October 22, 2007, 12:00 AM EDT) -- A month after he shot down efforts by R&G Financial Corp. and its officers to get the shareholder litigation against them tossed, a Manhattan federal judge has refused to dismiss the consolidated suit's claims that PricewaterhouseCoopers LLC conducted faulty audits of the Puerto Rican mortgage lender.

The defendants in the putative class action suit, whose amended consolidated complaint was filed in February, moved for dismissal in May. Judge John Sprizzo junked all the requests except PricewaterhouseCoopers' on Sept. 8. At the time, he delayed deciding on...
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