New York (Oct. 31, 2002) -- Big Four firm PricewaterhouseCoopers agreed to pay $21.5 million to shareholder lawsuits related to its audit of multimedia technology products distributor Anicom Inc.Plaintiffs filed suit against PwC charging the firm had certified Anicom’s results up until the time the company filed for bankruptcy nearly two years ago.
A PwC spokesman said that the firm decided to settle the suits to sidestep potential costly and lengthy litigation.
Two years ago, PwC agreed to pay $51 million stemming from its audits of MicroStrategy Inc. It also is under investigation for its audit of Tyco International.
--Electronic Accountant Newswire staff
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