PwC To Pay $10M, Avoids Larger Setback

Law360, New York (February 7, 2007, 12:00 AM EST) -- A Georgia state jury has ordered PricewaterhouseCoopers LLP to pay $10 million for “negligent misrepresentation” in the collapse of a nursing home company.

Though this constitutes a setback for the Big Four accounting firm, the Cobb County Superior Court jury did reject the more severe charges of fraud and racketeering, and did not order the firm to dole out attorneys’ fees.

A lawyer for PricewaterhouseCoopers said she was pleased with the decision, according to the Atlanta Journal-Constitution, and that the company would consider its options about...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.