Settlements and Verdicts

Ohio Class Action Against Pricewaterhouse Coopers Settled for $97.5 Million

A lawsuit claiming that Pricewaterhouse Coopers helped mislead investors about American International Group's earnings, will be settled with a $97.5 million pay out by the accounting firm to the state of Ohio.

According to Ohio's attorney general, who is prosecuting the case, this settlement is among the 10 highest paid by an accounting firm in a securities fraud class-action, or group lawsuit.

In 2005, an investigation by regulators triggered a $3.9 billion earnings restatement by AIG.

OCT-06-08: Pricewaterhouse Coopers to pay $97.5 million to settle suit [MIAMI HERALD: PRICEWATERHOUSE $97.5 MILLION SETTLEMENT]

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