Amerco filed the suit April 18 in U.S. District Court for the District of Arizona.

Amerco said the lawsuit outlined "a series of events caused by PwC" that resulted in the need for the debt-strapped Amerco to restructure its balance sheet and obtain over $850 million in new financing.

Amerco dismissed PricewaterhouseCoopers as its auditor last year.

At that time, Amerco went to settle the dispute through mediation and hired top audit authority and Baruch accounting professor Douglas Carmichael, who last week was named as chief auditor to the Public Company Accounting Oversight Board.

A PwC spokesman said, “This action appears to be an attempt by company management to shift the blame away from themselves."

-- WebCPA staff

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