PricewaterhouseCoopers

A class action lawsuit was filed against the accounting firm regarding auditing methods involving two collapsed mutual funds. PricewaterhouseCoopers was the accounting firm for Heartland Advisors Inc. in 2000 when the investment firm marked down the value of the two funds by an estimated $80 million loss to shareholders. When Heartland was liquidated, shareholders received $30 million and they were awarded $14 million in a separate class action with Heartland. PricewaterhouseCoopers has agreed to pay the shareholders another $8.5 million class action settlement. (Jan-03-06) [LACROSSE TRIBUNE]

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