Investors Fire Back At PwC In MF Global Securities Suit
By Chelsea Naso
Law360, New York (October 29, 2013, 9:59 PM ET) -- Bankrupt MF Global Holdings Inc.'s customers challenged PricewaterhouseCoopers’ attempt to toss a proposed class action in New York federal court on Monday, in a case claiming the auditing firm failed to identify the brokerage's alleged scheme to deceive investors about its financial stability.
The customers emphasized that PwC’s sole purpose as an auditor was to ensure that the MF Global complied with all state and federal regulations and that customer funds were safe. Even if a formal contract did not exist, the implication that PwC would...