Please ensure Javascript is enabled for purposes of website accessibility

Arthur Andersen’s Bones Still Have Some Meat on Them

Hey, an extra $38 million for the WorldCom fiasco is an extra $38 million:

Two law firms, Bernstein Litowitz Berger & Grossman LLP and Barrack Rodos & Bacine, announced the proposed settlement Monday. They noted that the lead plaintiff previously achieved settlements with various defendants in the case for over $6.1 billion plus interest to benefit members of the class action. One of the previous settlements was with Andersen in 2005 and it provided for a cash payment of $65 million, as well as the possibility of certain contingent payments. The currently proposed settlement would settle and release the contingent payment claim in return for the immediate payment by Andersen of an additional $38 million in cash. 

[AT]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

orange cat

Friday Footnotes: Disengaged Team? Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

Reminder: you have until April 17 to weigh in on a proposal to extend the CPA exam window Practice Is it time for firms to transform their business model? [Journal of Accountancy] Pandemic pressures have worn the workforce thin, and the economy is in the thick of rapid, radical change. It’s time for firm leaders […]

Accenture office NSW Australia

Layoff Watch ’23: Accenture is ‘Streamlining Operations’ But Don’t Worry, It’s Mostly Back Office Staff

It’s a rare day we write about Accenture but because the firms we do write about have begun tightening their belts and even cutting advisory people (KPMG, BDO), we thought it prudent to inform you of what appeared in the 10-Q the company filed yesterday. This is from Item 2. Management’s Discussion and Analysis of […]