MF

PwC Settles $3B Lawsuit With MF Global Over Collapse

A Manhattan federal jury has been robbed of its chance to decide whether the collapse of financial firm MF Global was the fault of its CEO Jon Corzine or his accounting firm. MF Global, which was seeking to pin the blame for the firm’s stunning 2011 demise on PriceWaterHouseCoopers, settled the case mid-trial, sources said. The parties reached an agreement on Wednesday and notified the judge …


PwC Must Face MF Global Lawsuit Over Accounting Advice

A US JUDGE has given the go-ahead for a $1bn lawsuit against PwC over claims the firm provided bad accounting advice which contributed to the 2011 collapse of MF Global. MF Global and its parent company, MF Global Holdings Ltd, collapsed in October 2011 after investors left the firm on learning about risky bets on sovereign debt taken by former chairman and New Jersey Senator Jon Corzine. In a …