May 06, 2016
A Manhattan federal judge gave final approval Friday to a $55 million deal between PricewaterhouseCoopers LLP and investors in Bernie Madoff's Ponzi scheme that say that the audit firm ignored red flags, closing out a marathon litigation against entities that provided services to Madoff feeder funds, with a total $235 million recovery.
February 09, 2016
The trustee for two defunct Madoff feeder funds asked a New York federal judge on Tuesday to reconsider his ruling denying the trustee's bid to intervene in a $55 million deal settling investors' claims that PricewaterhouseCoopers LLP negligently overlooked signs of the massive Ponzi scheme.
February 03, 2016
A Manhattan federal judge on Tuesday denied a bid by the trustee representing two defunct Madoff feeder funds to intervene in a proposed $55 million deal between PricewaterhouseCoopers LLP and a class of investors who say the accounting giant was negligent in auditing entities that pumped money into the giant Ponzi scheme.
February 01, 2016
PricewaterhouseCoopers LLP and a class of investors who lost money in Bernie Madoff's Ponzi scheme have asked a New York federal judge to block attempts from a bankruptcy trustee to intervene in their $55 million settlement, saying the trustee's arguments have too many holes to move forward.
January 07, 2016
PricewaterhouseCoopers LLP has agreed to pay $55 million to escape a class action claiming it failed to recognize and alert investors to red flags in funds invested in Bernie Madoff’s Ponzi scheme, bringing an end to seven years of litigation just as the case was headed to trial.
August 12, 2015
Hedge fund manager and administrator Citco Group Ltd. has agreed to pay $125 million to end class action claims that it helped funnel investors' money into Bernie Madoff's Ponzi scheme, according to documents filed in New York federal court Wednesday.
July 29, 2015
A New York federal judge ruled Wednesday that negligence claims brought under state law against Standard Chartered PLC and PricewaterhouseCoopers LLP over Bernie Madoff's Ponzi scheme survive new Second Circuit jurisprudence on the Securities Litigation Uniform Standards Act.
July 23, 2015
Hedge fund manager and administrator Citco Group Ltd. told a New York federal judge on Thursday that it's reached a settlement with Madoff feeder fund customers and is withdrawing a motion to dismiss their suit.
March 13, 2015
It was deja vu for investors accusing PricewaterhouseCoopers LLP and Citco Group Ltd. of misleading them about the quality of feeder funds involved in Bernie Madoff's Ponzi scheme, with the firms recently saying they will fight class certification yet again, weeks after a second certification took hold.
March 04, 2015
A New York federal judge on Tuesday again certified a class of investors accusing PriceWaterhouseCoopers LLP and Citco Group Ltd. of misleading them about the quality of feeder funds involved in Bernie Madoff's Ponzi scheme after the Second Circuit vacated his previous decision in 2014.