Judge Determines that PricewaterhouseCoopers was Negligent in Colonial Bank Auditing Case – Constantine Cannon

Companies within the SEC’s purview are required to report their earnings and basic financial statement information to allow investors to make informed decisions about the company. Unfortunately, some companies manipulate this data through fraudulent accounting practices. Whistleblowers with knowledge of accounting fraud may be able to bring a claim under the sec whistleblower reward Program.

Judge Determines that PricewaterhouseCoopers was Negligent in Colonial Bank Auditing Case Posted 01/3/18 By the C|C Whistleblower lawyer team late last week, a federal judge determined that accounting giant PricewaterhouseCoopers (PwC) was negligent in its auditing of Colonial Bank, the Alabama institution that failed in 2009 in the midst of the financial crisis.

Shoddy PwC Audits Led To Bank Failure, Judge Rules.. PwC had served as the auditor for Colonial BancGroup Inc. and its primary subsidiary, Colonial Bank, and U.S. District Judge Barbara Jacobs.

PricewaterhouseCoopers LLP was negligent in connection with one of the biggest bank failures of the financial crisis, a federal judge has ruled, opening up the Big Four accounting firm to the.

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(the "Bankruptcy Court") in a case styled: In re: The Colonial BancGroup, Inc., No.. Federal Deposit Insurance Corporation, as Receiverfor Colonial Bank, No.. PricewaterhouseCoopers LLP, Crowe Horwath LLP and Ernst & Young LLP, including.. submitted to Magistrate Judge Wallace Capel, Jr. of the District Court , or,

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A federal judge has found PricewaterhouseCoopers negligent in failing to detect fraud that led to one of the biggest bank failures in the financial crisis, the 2009 collapse of Alabama’s Colonial.

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