A jury in Cobb County, Ga., has levied a $10 million judgment against PricewaterhouseCoopers, finding that the firm was guilty of negligent misrepresentation during the 1996 merger of nursing-home companies Convalescent Services and Mariner Health Group.
According to the Atlanta Journal-Constitution, the lawsuit was filed in 2002 by Stiles A. Kellett Jr. and his brother Samuel B. Kellett, who ran Marietta, Ga.-based Convalescent. When the brothers sold their facilities to Boston-based Mariner in the mid-1990s, they were compensated primarily in Mariner stock.
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