Hedge Funds Can't Blame PwC For Collapse, Judge Says

Law360, New York (April 26, 2013, 6:12 PM EDT) -- PricewaterhouseCoopers LLP is off the hook for its alleged role in a fraud that took down a group of hedge funds after a New York judge ruled Thursday that the funds' wrongdoing prevented them from putting the auditor on the hook, too.

The case began as an investor class action that ended with a $91 million judgment against hedge funds connected to Lipper & Co. Inc. that collapsed after their portfolio manager, Edward Strafaci, inflated the securities' value and a PwC partner failed to catch the...
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