MF Global Holdings sues PWC for $10.9B

MF Global Holdings, the commodities brokerage run by former New Jersey governor Jon Corzine, has sued Pricewaterhousecoopers for “extraordinary and egregious professional malpractice”. The $10.9 billion suit follows the 2011 spectacular meltdown and bankruptcy.

PWC is accused of advising for the off-balance-sheet accounting treatment for the European sovereign debt investment that lead to the firms downfall.

The case is  MF Global Holdings Ltd as Plan Administrator v. PricewaterhouseCoopers LLP, U.S. District Court, Southern District of New York, No. 14-02197.

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