PwC Agrees to $25.5M Settlement

PricewaterhouseCoopers has agreed to pay a $25.5 million in a class-action suit alleging that its audits did not prevent a large accounting fraud at Satyam Computer Services, The Wall Street Journal wrote Tuesday.

• PwC agreed last month to pay $7.5 million to settle charges that its audits of Satyam were inadequate.
• Satyam admitted its cash balances had been overstated by $1 billion over the course of five years.
• Satyam itself settled a lawsuit by investors for $125 million and will pay $10 million to settle Securities and Exchange Commission charges, the Journal wrote.