PwC To Pay $225M To Get Rid Of Tyco Case

Law360, New York (July 6, 2007, 12:00 AM EDT) -- PricewaterhouseCoopers LLC has agreed to pay $225 million to settle shareholders claims that it should have uncovered fraud by Tyco International Ltd., bringing the total settlement to more than $3.2 billion.

The settlement, which was announced on Friday, comes on the heels of Tyco agreeing in May to pay $3 billion to settle the claims against it.

Attorneys for the shareholders said the settlement with PwC was one of the largest recoveries ever by an outside auditor in a securities litigation and perhaps the largest ever...
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