PwC must face $1 billion MF Global lawsuit: U.S. judge

August 5, 2016 5:01 PM

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PwC must face $1 billion MF Global lawsuit: U.S. judge

NEW YORK A federal judge has rejected PricewaterhouseCoopers' bid to dismiss a $1 billion lawsuit claiming that its bad accounting advice helped cause the October 2011 bankruptcy of MF Global Holdings Ltd, a brokerage once run by former New Jersey governor Jon Corzine.

In a decision made public on Friday, U.S. District Judge Victor Marrero in Manhattan said there remain open questions concerning the "causal relationship" between PwC's accounting advice and MF Global's bankruptcy.

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