PwC Agrees to $25.5 Million Settlement In Investor Lawsuit Over Satyam Audits

Affiliates of global accounting giant PricewaterHouseCoopers LLP agreed April 29 in the U.S. District Court for the Southern District of New York to pay $25.5 million to settle investor charges over their alleged roles in concealing a billion-dollar accounting fraud at Satyam Computer Services Ltd. (In re Satyam Computer Services Ltd.).

The move is the latest in a controversy some have referred to as “India’s Enron.” Less than a month ago, five India-based PwC affiliates agreed to pay $6 million and to undertake certain remedial steps to resolve Securities and Exchange Commission charges that their deficient audits of ...