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July 29, 2000 | GREG HERNANDEZ, TIMES STAFF WRITER
Six years after investors lost $136 million in fraud-ridden First Pension Corp., an Orange County jury on Friday found accounting giant Coopers & Lybrand and one of its partners liable for both general and punitive damages. The Superior Court jury determined that Coopers, which has since merged to become PricewaterhouseCoopers LLC, and partner Hal Hurwitz misrepresented First Pension's financial condition, concealed material information and aided and abetted the company's managers in the fraud.
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NEWS
July 29, 2000 | GREG HERNANDEZ, TIMES STAFF WRITER
Six years after investors lost $136 million in fraud-ridden First Pension Corp., an Orange County jury on Friday found accounting giant Coopers & Lybrand and one of its partners liable for both general and punitive damages. The Superior Court jury determined that Coopers, which has since merged to become PricewaterhouseCoopers LLC, and partner Hal Hurwitz misrepresented First Pension's financial condition, concealed material information and aided and abetted the company's managers in the fraud.
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NEWS
January 31, 1992 | CARL INGRAM, TIMES STAFF WRITER
Heavily lobbied legislation that would open to public inspection out-of-court settlements involving cases of defective products, environmental hazards and civil fraud was narrowly approved Thursday by the Senate. The action handed a big defeat to the California business and manufacturing establishment, whose representatives argued the bill would drive more employers from California.
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