NEW YORK PricewaterhouseCoopers LLP has settled a $3 billion negligence lawsuit over the October 2011 collapse of MF Global Holdings Ltd, the futures and commodities brokerage once run by former New Jersey governor Jon Corzine.
The administrator faulted PwC over the accounting for "repurchase-to-maturity" transactions through which Corzine bet on the European debt, and for changing its advice on deferred tax assets, causing the writedown.
He also called the European debt a low-risk investment that ultimately paid in full.
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