If there is a ray of hope; $1 Billion MF Global Suit Against PwC Cleared for Trial
A judge says a jury should decide whether PwC provided bad accounting advice that caused MF Global's collapse.
“This is a major victory for the MF Global [bankruptcy] estate,” Nader Tavakoli, MF Global’s lead director, told The Wall Street Journal. “It sends a strong message concerning the need for responsibility and accountability, and we hope to secure a substantial recovery for MF Global’s stakeholders.”
This is pretty big news. The bankruptcy estate has been granted a trial by jury. Legal fees alone are going to hit PWC. Wonder if we hear of a settlement?
the above is all IMHO (consider this my safe harbor statement)
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