PwC Asks To Be Dropped From Suit On Startup's Tax Info

By Alex M. Parker (June 9, 2020, 7:50 PM EDT) -- The Chinese unit of PwC asked a New York federal court Tuesday for dismissal from a stock-drop suit against a Beijing-based data startup, contending it had nothing to do with what investors say was that company's understatement of tax expenses.

U.S. District Judge Edgardo Ramos had previously dropped PricewaterhouseCoopers Zhong Tian LLP, the PwC unit, from an earlier version of the suit over jurisdictional issues. A group of investors who claim they were misled about the financial situation of the data analytics firm Gridsum Holding Inc. refiled the class action lawsuit in May, adding an allegation that the company had understated...

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