Complinet logo
Contact us

MF Global customers sue PricewaterhouseCoopers in amended lawsuit

Nov 06 2012 Reuters

Former customers of MF Global Holdings Ltd's broker-dealer have added accounting firm PricewaterhouseCoopers LLP as a defendant in a lawsuit stemming from the collapse of the brokerage. In an amended complaint filed in U.S. District Court in Manhattan on Monday, the customers of MF Global Inc accused PwC of failing to adequately audit MF Global's internal controls over customer funds. The complaint also repeated prior accusations against former officials at MF Global, including former Chief Executive Jon Corzine, who is accused of violating the Commodity Exchange Act, which restricts the use of customer funds. Caroline Nolan, a spokeswoman for PwC, said it conducted its last audit of MF Global in March 2011 "in accordance with professional standards." The audit at the time confirmed that MF Global had maintained its customer accounts in accordance with federal regulations, she said. "We will defend this lawsuit vigorously," Nolan said. The lawsuit also named as a defendant

Already have an account?

Log in

Want to read this article?

Click here for a free 14 day trial