Riffing off of a tweet from Francine McKenna (@retheauditors ) some time last month, we decided to pull together as much of the publicly available settlement info on the Big 4 for the past 5 or so years that we could find. With the financial crisis still top of mind for many folks, we thought it might be interesting to see what (if any) settlements are driving out of the whole mess and thought that some background info will help set the context.
KPMG
| Date | Amount | Against | With | Source |
| Mar-16-08 | $10.5 million | Investor class action lawsuit | Annuity and Life Re (Holdings), Ltd., (ANR) – (KPMG Bermuda) | http://www.lawyersandsettlements.com/settlements/11206/kpmg-bermuda-securities.html |
| Jun-03-06 | $154 million | Investor class action law suit | law firm of Sidley Austin Brown & Wood | http://www.lawyersandsettlements.com/settlements/05692/kpmg_settlement.html |
| Jan-04-05 | $2.77 million | U.S. Department of Justice | Booz Allen Hamilton Inc. $3.37 million/Ernst & Young LLP $4.47 million | http://www.lawyersandsettlements.com/settlements/04786/travel_expenses.html |
| Sep-30-05 | $225 million | Investor class action law suit | law firm Sidley Austin Brown & Wood
combined settlement |
http://www.lawyersandsettlements.com/settlements/04346/kpmg_tax_shelter.html |
| Apr-19-05 | $22.5 million | SEC | Xerox Corp. | http://www.washingtonpost.com/wp-dyn/articles/A3121-2005Apr19.html |
| Apr-05-04 | $34 million | Customers overbilled for travel expenses | None mentioned | http://www.lawyersandsettlements.com/settlements/02148/kpmgandbearingpointinc.html |
PwC (PricewaterhouseCoopers)
| Date | Amount | Against | With | Source |
| Oct 3, 2008 | $97.5 million | Ohio | AIG | |
| Mar-02-08 | $30 million | The Metropolitan Mortgage & Securities Co. investors’ trust | None mentioned | http://www.lawyersandsettlements.com/settlements/11020/accounting-mistakes.html |
| Aug-16-07 | $5.3 million | US Justice Department | IBM
Combined settlement |
|
| Jul-06-07 | $225 million | shareholders securities class action lawsuit | Tyco International | http://www.lawyersandsettlements.com/settlements/08612/pwc-securities-settlement.html |
| Jan-03-06 | $8.5 million | Heartland Advisors Inc shareholders class action lawsuit | None mentioned | http://www.lawyersandsettlements.com/settlements/04771/pwhc_heartland.html |
| Oct-27-05 | $27.9 million | Shareholders class action law suit | None mentioned | http://www.lawyersandsettlements.com/settlements/04477/pwh_telxon.html |
Deloitte and Touche
| Date | Amount | Against | With | Link1 |
| AUG-08-08 | $26 million | GM shareholders | GM
$277 million |
http://www.lawyersandsettlements.com/settlements/12437/gm-deloitte-touche-settle-shareholder-class-action.html |
| Dec-28-07 | $38.25 million | Investor class action | Delphi Corp.
$325 million Including D&T’s |
http://www.lawyersandsettlements.com/settlements/10361/deloitte-touche-delphi.html |
| Aug-03-07 | $167.5 million | Adelphia Recovery Trust | None mentioned | http://www.lawyersandsettlements.com/settlements/08890/adelphia-auditor.html |
| Mar-27-07 | $50.5 million
Canada |
US shareholders | Philip Services Corp. $79.75 million including D&T’s | http://www.lawyersandsettlements.com/settlements/07532/deloitte-touche.html |
| Feb-20-07 | $149 million | Parmalat | None mentioned | http://www.lawyersandsettlements.com/settlements/07246/deloitte.html |
| Jun-30-06 | $24 million | Symbol Technologies | http://www.lawyersandsettlements.com/settlements/05823/deloitte_touche_trust_funds.html |
E&Y (Ernst and Young)
| Date | Amount | Against | With | Source |
| May-22-08 | $3.5 million | Shareholder class action | American Italian Pasta Co.
$25 million |
http://www.lawyersandsettlements.com/settlements/11920/ernst-young-american-italian-pasta.html |
| Apr-12-07) | $9.08 million | investor class action | PNC Financial Services Group Inc.
$115 million |
http://www.lawyersandsettlements.com/settlements/07723/ernst-young-settlement.html |
| Mar-26-07 | $1.6 million | US Securities and Exchange Commission | None mentioned | http://www.lawyersandsettlements.com/settlements/07552/auditor-independence.html |
| Jan-04-05 | $4.47 million | U.S. Department of Justice | Booz Allen Hamilton Inc. $3.37 million, KPMG LLP $2.77 million. | http://www.lawyersandsettlements.com/settlements/04786/travel_expenses.html |
| Sep-15-04 | $20 million | class action lawsuit | Cap Gemini | http://www.lawyersandsettlements.com/settlements/02503/ernstyoungandcapgemini.html |
| Jul-03-03 | $15 million dollars | IRS | None mentioned | http://www.lawyersandsettlements.com/settlements/01715/ernstyoung.html |
As always, we look forward to comments from the community about any items we may have missed or corrections in our reporting.
No related articles.
