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2007 Securities Litigation Study 
PricewaterhouseCoopers Securities Litigation and Investigations Practice conducted its 12th annual evaluation of the private securities class action suits processed over the year. Most notable in 2007 was the escalation of what has been termed the subprime crisis, the full implication of which have yet to be seen in the financial and legal worlds. After a two-year decline and sluggish start to the year, total federal class actions filed in 2007 increased once more, reversing the previous downturn, according to the study. During 2007, a total of 113 settlements were reached, comparable with the 112 reached in 2006. Also notable, the number of federal securities class action lawsuits filed against foreign private issuers increased in 2007 by 93 percent to 27 cases compared to 14 cases filed in 2006. To read more download the study.
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Restatements and Materiality
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Several studies monitoring restatements have concluded that the number of restatements has dramatically increased over the past few years. Partners Grace Lamont and Steve Skalak, of PricewaterhouseCoopers, suggest that restatements will continue to be required in those circumstances where fraud, rather than error, complexity, or oversight is the root cause of inaccurate financial reporting.
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2006 Securities Litigation Study
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The i PricewaterhouseCoopers 2006 Securities Litigation Study /i revealed that, out of 99 settlements in 2006, 28 cases settled for $20 million or more, compared to 32 in 2005 and 23 in 2004. By far the biggest issue of the year, as reported in the study, is stock options backdating.
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The Evolving Role of General Counsel
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Managing the Crisis: Internal and External Investigations,Dealing With Regulators, and the New World of Discovery. PricewaterhouseCoopers' Investigations partners Steven Skalak and Chuck Hacker are joined by Stephen Cutler, Mary Jo White, and Peter Lieb for a roundtable discussion. Reprinted with permission. The National Law Journal, April 2006
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A Guide to Forensic Accounting Investigation
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PricewaterhouseCoopers, the world's largest accounting, auditing, and business advisory organization is proud to announce the publication of this major new book, which guides auditors and other financial managers through the key techniques needed to address fraud in today's corporate environment.
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