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Judge Muzzles MF Global On PwC 'Public Watchdog' Role

Law360, New York (March 3, 2017, 5:24 PM EST) -- A federal judge in New York on Thursday precluded MF Global from telling the jury in the impending trial of its $1 billion-plus professional malpractice suit against PricewaterhouseCoopers that the accounting firm had a public watchdog function outside of its obligations to the now-defunct investment company.

PwC, in a February letter, asked U.S. District Judge Victor Marrero to bar MF Global from implying at trial, which begins Monday, that the accounting giant owed a duty to anyone other than the investment firm. PwC also asked that MF Global be estopped from denying it had asserted in another action that MF Global’s...

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