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07 Oct 2008
PricewaterhouseCoopers has reached a settlement with Ohio state over a class action securities fraud lawsuit.
The Big Four firm, had been named in the suit by three state pension funds alongside audit client American International Group (AIG) and its chief executive Hank Greenberg, but all have now agreed to a $97.5m (£56m) settlement, subject to approval by the U.S District Court for Southern New York, reported Reuters.
Shareholders had been seeking damages after AIG agreed to pay $1.64bn in fines and restitution in 2006 as a result of regulatory probes by New York's attorney general, the SEC and the Justice Department.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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