Michigan Sues Tyco, PwC Over Pension Funds

Law360, New York (February 11, 2008, 12:00 AM EST) -- The state of Michigan has accused Tyco International, its disgraced chief executive Dennis Kozlowski and auditor PricewaterhouseCoopers LLP of being part of a massive fraud scheme that sapped more than $50 million from the state's pension funds.

The 269-page complaint was filed in the U.S. District Court for the Eastern District of Michigan on Friday on behalf of the Michigan Department of Treasury as custodian of four pension plans. The defendants include Tyco, its auditors and four of the company's former officers and directors.

The retirement...
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