Investors can move forward with their fraud lawsuit against PricewaterhouseCoopers for its role in auditing a hedge fund that was eventually shut down and whose portfolio manager was sent to prison, Reuters reports. The 2nd U.S. Circuit Court of Appeals in New York said a trial judge should not have dismissed a claim that PwC’s auditor opinion letters played a role in plaintiffs investing in Lipper Convertibles, which was liquidated in 2002 after it was revealed that the firm inflated the value of its assets by more...
