3rd Circ. Upholds $182M Judgment Against PwC

Law360, New York (September 11, 2008, 12:00 AM EDT) -- A federal appeals court has upheld a $182 million judgment against PricewaterhouseCoopers LLC in an auditing malpractice suit brought by Vermont regulators seeking to recover damages related to the 1983 collapse of an insurance company.

In a decision handed down Sept. 9, the U.S. Court of Appeals for the Third Circuit upheld a 2005 jury verdict reached in the U.S. District Court for the District of New Jersey, thereby rejecting PwC's appeal that it could not be held liable for the collapse of Ambassador Insurance Co....
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