PricewaterhouseCoopers LLP has agreed to pay $225 million to settle a class action lawsuit brought by shareholders of Tyco International Ltd. over a multibillion-dollar accounting fraud that sent Tyco’s top executives to prison.
The settlement with Tyco’s former auditing firm comes on top of one reached in May with Tyco. The company agreed to put $2.975 billion into a fund to settle most shareholder claims over the actions of Tyco’s former chief executive officer, L. Dennis Kozlowski, and the company’s ex-chief financial officer, Mark Swartz.
