$182 Million Judgment Upheld Against PricewaterhouseCoopers
The 3rd Circuit has upheld a judgment of more than $182 million against PricewaterhouseCoopers in an auditing malpractice suit brought by the receiver for bankrupt Ambassador Insurance. The suit accused PwC of negligence in its accounting procedures that caused the insurer’s debts to continue to swell long after it should have been declared insolvent. Significantly, the panel rejected PwC’s
