PricewaterhouseCoopers will pay about $28 million to shareholders of Telxon Corp., finally putting an end to legislation concerning the high-tech manufacturer.
The settlement stems from a 2001 lawsuit brought against the accouting firm, which was Telxon's accountant before a buyout from parent company Symbol Technologies Inc. caused Telxon to change its auditor in 2000. Telxon blamed PwC for the financial irregularities that saddled the company with lawsuits and a Securities and Exchange Commission investigation.
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