MF Global to sue PwC for malpractice

Jon Corzine

MF Global is suing PricewaterhouseCoopers for at least $2bn, alleging PwC’s accounting advice helped cause MF’s 2011 collapse.

MarketWatch reports that in a lawsuit filed Friday with U.S. district court in Manhattan, officials in charge of MF Global’s liquidation said PwC gave 'flatly erroneous' advice on how to account for the European sovereign debt that tipped MF Global into bankruptcy.

'This case arises out of PwC’s extraordinary and egregious professional malpractice and negligence in its role as the longtime outside auditors and accounting experts for MF Global', lawyers for the collapsed brokerage firm said in the suit. 

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MF Global sues Pricewaterhouse Coopers for malpractice

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