Georgia's Court of Appeals has upheld a $10 million jury verdict against PricewaterhouseCoopers on behalf of four family trusts. In 2007, a jury found the Big Four accounting firm liable for negligent misrepresentation in a series of financial audits of a nursing home conglomerate. Two brothers associated with the trusts claimed that PwC had engaged in fraud that cost them more than $126 million in stock losses.
July 25, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Georgia’s Court of Appeals has upheld a $10 million jury verdict against PricewaterhouseCoopers on behalf of four family trusts associated with Cobb County businessmen Stiles A. Kellett Jr. and his brother, Samuel B. Kellett.
The appellate panel, in an opinion authored by Judge John J. Ellington, on Monday rejected the international accounting firm’s appeal of the 2007 verdict, one of the largest in Cobb history.
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