Why did PwC settle a $5 billion case in the middle of a trial?

It seems like this really flew under the radar, but it's worth noting that PwC settled in the middle of a trial in Miami over a case related to shoddy auditing of a failed, corrupt mortgage company in Ocala, FL. Check it out here from Tampa Bay Times. I can understand why PwC didn't want the same fate as Arthur Andersen, but should more people have gone to jail over this?! http://www.tampabay.com/news/business/banking/auditor-pwc-settles-55-billion-lawsuit-as-taylor-bean-mortgage-fraud-case/2291405

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  • David Bryant
    published this page in Ask Prof. Wolff 2016-08-31 20:36:17 -0400