PricewaterhouseCoopers Settles $3.0 Billion Lawsuit over MF Global Collapse

[kreslik.news]

Accounting giant PricewaterhouseCoopers LLP has settled a $3 billion negligence lawsuit in the middle of a trial lasting weeks over its alleged responsibility for the 2011 collapse of commodities brokerage MF Global Holdings.

MF Global’s bankruptcy administrator and PwC each said that the settlement terms were confidential, but that the lawsuit has been resolved “to the mutual satisfaction of the parties”.

The settlement deal should be the last remaining piece of litigation relating to the bankrupt financial services firm, following earlier settlements benefiting shareholders, bondholders and customers.

The world’s biggest professional services firm by annual revenues had been accused of advising MF Global ... (read more)