{"id":6121,"date":"2017-03-05T17:13:05","date_gmt":"2017-03-05T23:13:05","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1472"},"modified":"2022-03-10T16:37:39","modified_gmt":"2022-03-10T22:37:39","slug":"hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/","title":{"rendered":"Hedge Funds Pursing More than $3B From PriceWaterhousCoopers in MF Global Lawsuit"},"content":{"rendered":"

\t\t\t\tThe trial in which a number of hedge funds and creditors are partly blaming PricewaterhouseCoopers for the collapse of MF Global is about to begin in U.S. District Court in New York. The plaintiffs, alleging malpractice involving \u201cerroneous accounting advice,\u201d are seeking over $3B in damages. Former MF Global CEO Jon Corzine, also an Ex-Goldman Sachs (GS) co-chairman and formerly both a New Jersey governor and US senator, is expected to testify in court.<\/p>\n

MF Global, once a global financial derivatives broker, is no longer in business. The firm failed in 2011 after customers left when they learned that Corzine had placed big bets on European sovereign debt during a volatile time for the markets. This caused a $1.6B shortfall in client accounts.<\/p>\n

Yet, because MF Global employed repo-to-maturity instruments to bet on the debt, this let the firm report the bets as gains, which enhanced the way its revenue looked. Also, clients\u2019 funds were commingled with MF Global\u2019s funds even though they should not have been mixed together.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The trial in which a number of hedge funds and creditors are partly blaming PricewaterhouseCoopers for the collapse of MF Global is about to begin in U.S. District Court in New York. The plaintiffs, alleging malpractice involving \u201cerroneous accounting advice,\u201d are seeking over $3B in damages. Former MF Global CEO Jon Corzine, also an Ex-Goldman […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3748,4009],"tags":[],"class_list":["post-6121","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-hedge-funds","category-mf-global"],"yoast_head":"\nHedge Funds Pursing More than $3B From PriceWaterhousCoopers in MF Global Lawsuit — Investor Lawyers Blog — March 5, 2017<\/title>\n<meta name=\"description\" content=\"The trial in which a number of hedge funds and creditors are partly blaming PricewaterhouseCoopers for the collapse of MF Global is about to begin in U.S. — March 5, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Hedge Funds Pursing More than $3B From PriceWaterhousCoopers in MF Global Lawsuit — Investor Lawyers Blog — March 5, 2017\" \/>\n<meta name=\"twitter:description\" content=\"The trial in which a number of hedge funds and creditors are partly blaming PricewaterhouseCoopers for the collapse of MF Global is about to begin in U.S. — March 5, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Hedge Funds Pursing More than $3B From PriceWaterhousCoopers in MF Global Lawsuit — Investor Lawyers Blog — March 5, 2017","description":"The trial in which a number of hedge funds and creditors are partly blaming PricewaterhouseCoopers for the collapse of MF Global is about to begin in U.S. — March 5, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/","twitter_card":"summary_large_image","twitter_title":"Hedge Funds Pursing More than $3B From PriceWaterhousCoopers in MF Global Lawsuit — Investor Lawyers Blog — March 5, 2017","twitter_description":"The trial in which a number of hedge funds and creditors are partly blaming PricewaterhouseCoopers for the collapse of MF Global is about to begin in U.S. — March 5, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Hedge Funds Pursing More than $3B From PriceWaterhousCoopers in MF Global Lawsuit","datePublished":"2017-03-05T23:13:05+00:00","dateModified":"2022-03-10T22:37:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/"},"wordCount":606,"articleSection":["Financial Firms","Hedge Funds","MF Global"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/","url":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/","name":"Hedge Funds Pursing More than $3B From PriceWaterhousCoopers in MF Global Lawsuit — Investor Lawyers Blog — March 5, 2017","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-03-05T23:13:05+00:00","dateModified":"2022-03-10T22:37:39+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The trial in which a number of hedge funds and creditors are partly blaming PricewaterhouseCoopers for the collapse of MF Global is about to begin in U.S. — March 5, 2017","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/hedge-funds-pursing-3b-pricewaterhouscoopers-mf-global-lawsuit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Hedge Funds Pursing More than $3B From PriceWaterhousCoopers in MF Global Lawsuit"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1AJ","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=6121"}],"version-history":[{"count":1,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6121\/revisions"}],"predecessor-version":[{"id":23662,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6121\/revisions\/23662"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=6121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=6121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=6121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}