Deloitte settles with SEC for $50mn

Deloitte & Touche LLP agreed to pay more than $50 million to settle charges brought against it by the Securities and Exchange Commission related to two former audit clients. The payments are part of separate settlements related to the Big Four firm's 2000 audit of cable giant Adelphia Communications Corp. and the 1998 audit of Birmingham, Ala.-based Just For Feet, a defunct shoe and sports apparel retailer. Deloitte did not admit or deny wrongdoing in either case.

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