(Bloomberg) MF Global Holdings Ltd., which filed for bankruptcy after a failed $6.3 billion bet on bonds of some of Europe’s most indebted nations, sued PricewaterhouseCoopers LLP for $1 billion, alleging accounting malpractice helped bring down the brokerage company.
PwC, which provided outside auditing and accounting experts, failed to advise the firm to account properly for its European sovereign debt holdings, leading it to over-invest in them, MF Global Holdings said in a complaint filed today in Manhattan federal court.
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