MF Global, PwC Settle $2B Malpractice Claim

Law360, New York (March 23, 2017, 9:32 AM EDT) -- MF Global and PricewaterhouseCoopers have settled a $2 billion professional malpractice case in New York federal court to the "mutual satisfaction of the parties," the litigants said Thursday.

After weeks of document- and regulation-heavy trial testimony, MF Global and PricewaterhouseCoopers have settled their $2 billion professional malpractice case in the district court for the Southern District of New York. (Getty) Terms of the deal, which came after several weeks of trial testimony, were not disclosed.

MF Global alleged that PwC's auditing failures on its financial statements allowed it to carry $6.3 billion in European sovereign repurchase-to-maturity bonds off its balance sheet. The...

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