PwC reaches mid-trial deal in lawsuit by Taylor Bean trustee

August 26, 2016 7:47 PM

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PwC reaches mid-trial deal in lawsuit by Taylor Bean trustee

PricewaterhouseCoopers has settled a lawsuit accusing the auditing firm of failing to detect the fraud that brought down Taylor, Bean & Whitaker Mortgage Corp in 2009, a lawyer for the mortgage lender's bankruptcy trustee said on Friday.

The settlement ends a civil trial in Miami-Dade County Circuit Court in Florida in which the trustee had sought more than $5.5 billion in damages from PwC. Terms are confidential, a lawyer for the trustee said.

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