Taylor Bean & Whitaker Plan Trust v. PricewaterhouseCoopers LLP

Summary

The lawsuit was filed in 2013 by a trust established as part of Taylor Bean and Whitaker Mortgage Corp.'s bankruptcy plan. Before being raided by federal agents in 2009 and then declaring bankruptcy, Taylor Bean & Whitaker was one of the largest mortgage lenders in the United States. The trust's lawsuit claims Taylor Bean & Whitaker incurred billions of dollars in debt as a result of PwC - which served as Colonial’s external auditor - signing off on fraudulent mortgage-related assets that didn’t exist.

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Outcome

Settled