PwC Must Face Tobacco Co.'s $800M Suit Over Audits
Law360, London (November 15, 2019, 1:27 PM GMT) -- PricewaterhouseCoopers must face an $800 million negligence suit brought by a subsidiary of British American Tobacco, a London judge ruled on Friday, saying the accounting giant cannot escape in-depth scrutiny of claims that it gave bad advice to the company embroiled in an expensive environmental cleanup.
The ruling, by Judge Timothy Fancourt at the High Court, rejects PwC’s request to have the suit filed by BAT subsidiary BTI 2014 LLC dismissed or to find in favor of the accounting firm on summary judgment.
The BAT subsidiary’s claim focuses on decisions made more than a decade ago by the board of directors of a company called...
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