Monday, April 3, 2017

After MF Global settlement, PwC Keeps The Oscars Gig

After the MF Global trial settlement, PwC keeps the Oscar gig.

After dealing with weeks of embarrassment, brand damage, ridicule, repeated apologies, rejection and capitulation, PwC has finally caught a break.
The Hollywood Reporter reports that the Academy of Motion Picture Arts and Sciences has decided to retain the firm to tabulate the ballots for the Oscars despite the colossal screw-up that happened with the Best Picture envelope.  Sure, it won’t make up for the untold millions they agreed to pay to the plaintiffs in the MF Global trial, but, hey,  it’s something!

PwC attorney James Cusick cross examines Jon Corzine at the MF Global PwC civil trial. The case settled March 23rd before  the trial came to a close. Judge Victor Marrero presiding in Manhattan Federal Court. artwork by Elizabeth Williams

The trial between bankrupt brokerage MF Global, run by former New Jersey Gov. Jon Corzine, and its former accounting firm, PwC, came to an unceremonious end on March 23rd, when both parties  reached a settlement.
Terms of the settlement were not disclosed. MF Global had been suing PwC for as much as $3 billion.
"The case was settled to the mutual satisfaction of the parties," said PwC spokesman Andrew Wilson.

Hollywood Reporter Oscar article

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