PwC Settles SmarTalk Case For $30.5M

Law360, New York (February 14, 2008, 12:00 AM EST) -- PricewaterhouseCoopers has agreed to pay $30.5 million to settle claims that it contributed to SmarTalk Teleservices’ stock plunge, which led to the calling card company’s bankruptcy.

Goldin Associates LLC, a restructuring firm appointed to oversee the liquidation of SmarTalk, announced the settlement on Thursday. Under the deal, the $30.5 million will be distributed to former SmarTalk creditors with allowed claims, while PwC will release more than $1 million in claims it filed against the company.

The deal, which Goldin said should complete SmarTalk’s bankruptcy affairs, is...
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