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BUSINESS
May 21, 2013 | By Stuart Pfeifer
Herbalife Ltd. has chosen PricewaterhouseCoopers as its independent auditor, ending a nearly two-month effort to replace KPMG, which resigned after a senior partner was accused of insider trading. The Los Angeles nutritional products company said PricewaterhouseCoopers would “immediately” begin re-auditing financial statements for 2010, 2011 and 2012, which KPMG withdrew after it learned of the insider-trading allegations. Herbalife shares jumped more than 4% after the company announced its decision.
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BUSINESS
May 22, 2013 | By Stuart Pfeifer, Los Angeles Times
Seven weeks after its auditor resigned in an insider trading scandal, Herbalife Ltd. retained major accounting firm PricewaterhouseCoopers as its new auditor. The Los Angeles nutritional products company said Tuesday that PricewaterhouseCoopers would begin "immediately" to re-audit its financial statements for 2010, 2011 and 2012. Former auditor KPMG withdrew its audits of those statements after it learned of the insider-trading allegations. Herbalife shares jumped on the news, gaining $1.33, or 2.7%, to $50.54.
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BUSINESS
April 24, 2001 | From Bloomberg News
Andre "Dr. Dre" Young settled his fraud suit against PricewaterhouseCoopers, the world's largest accounting firm, days before a trial was set to begin. The Grammy winner claimed in his 1998 suit that Coopers & Lybrand's Gelfand, Rennert & Feldman unit mismanaged his finances when he co-owned Death Row Records. Price Waterhouse and Coopers & Lybrand merged in mid-1998 to create PricewaterhouseCoopers. PricewaterhouseCoopers paid Young an estimated $15 million to resolve the case, sources said.
BUSINESS
October 7, 2012 | By Roger Vincent
Accounting firm PricewaterhouseCoopers has agreed to move its downtown Los Angeles offices in a 15-year deal with landlord Brookfield Office Properties Inc. As part of its agreement to rent six floors -- about 135,000 square feet -- the firm will have its PwC logo attached to the top of the 53-story building at 601 S. Figueroa St. About 1,450 employees will move to the new offices in May from 350 S. Grand Ave. The new quarters will have less...
BUSINESS
March 31, 2009 | Times Wire Reports
U.S. Internet advertising revenue climbed marginally in the fourth quarter despite the poor economy. But the growth rate was sluggish compared with previous years. The report from the Interactive Advertising Bureau and PricewaterhouseCoopers said revenue from online ads totaled $6.1 billion in the last three months of 2008. That marked an increase of almost 3% from the same period in 2007. But back then, Internet advertising was up 24% over the previous year.
BUSINESS
October 6, 2001 | Associated Press
Xerox Corp. replaced an accounting firm that had found fault with its management after investigating the finances of the struggling copier and printer company. Xerox said PricewaterhouseCoopers will replace KPMG as its independent accounting firm effective Dec. 31. KPMG said in documents Xerox filed with the Securities and Exchange Commission that its review found evidence that Xerox management "was not successful in setting the appropriate tone with respect to financial reporting."
BUSINESS
August 5, 2005 | From Reuters
Lawyers for former American International Group Inc. Chief Executive Maurice "Hank" Greenberg have questioned a decision to cut $2.26 billion from the insurer's net worth and said PricewaterhouseCoopers' role in the insurer's accounting woes should be examined.
BUSINESS
March 11, 2008 | From Bloomberg News
Moscow and Istanbul, Turkey, real estate investment returns are likely to surpass those of Paris and London because of optimism that faster growth in emerging markets will push up rents and fuel demand for property, according to a survey of investors, brokers and analysts. "There is an increasing appetite for emerging markets," said John Forbes, the London-based head of real estate at PricewaterhouseCoopers. London fell to 15th place out of 27 cities for 2008, from second last year, and Paris dropped to fifth from first, the Urban Land Institute and PricewaterhouseCoopers said in a report.
OPINION
June 1, 2007
Re "Development ban on VA campus struck from bill," May 29 It could not be more clear that President Bush wants to "support our troops" by selling the land that was donated to the government for veterans' hospitals and healing. It is more than a belief that this has always been the administration's plan. The 2005 contract between the Department of Veterans Affairs and PricewaterhouseCoopers calls for the consultant to perform a study to "find the most probable non-VA use" using the "best commercial practices" for the commercial "reuse," not veterans' use, of the land.
BUSINESS
July 18, 2002 | Associated Press
PricewaterhouseCoopers has agreed to pay $5 million to settle allegations by federal regulators that it broke rules meant to ensure that auditors remain independent from the companies whose books they oversee. PricewaterhouseCoopers neither admitted nor denied wrongdoing in the settlement that the Securities and Exchange Commission announced. The firm agreed to be censured for engaging in improper professional conduct and to make changes in how it operates, the agency said.
BUSINESS
March 31, 2009 | Times Wire Reports
U.S. Internet advertising revenue climbed marginally in the fourth quarter despite the poor economy. But the growth rate was sluggish compared with previous years. The report from the Interactive Advertising Bureau and PricewaterhouseCoopers said revenue from online ads totaled $6.1 billion in the last three months of 2008. That marked an increase of almost 3% from the same period in 2007. But back then, Internet advertising was up 24% over the previous year.
BUSINESS
March 11, 2008 | From Bloomberg News
Moscow and Istanbul, Turkey, real estate investment returns are likely to surpass those of Paris and London because of optimism that faster growth in emerging markets will push up rents and fuel demand for property, according to a survey of investors, brokers and analysts. "There is an increasing appetite for emerging markets," said John Forbes, the London-based head of real estate at PricewaterhouseCoopers. London fell to 15th place out of 27 cities for 2008, from second last year, and Paris dropped to fifth from first, the Urban Land Institute and PricewaterhouseCoopers said in a report.
OPINION
June 1, 2007
Re "Development ban on VA campus struck from bill," May 29 It could not be more clear that President Bush wants to "support our troops" by selling the land that was donated to the government for veterans' hospitals and healing. It is more than a belief that this has always been the administration's plan. The 2005 contract between the Department of Veterans Affairs and PricewaterhouseCoopers calls for the consultant to perform a study to "find the most probable non-VA use" using the "best commercial practices" for the commercial "reuse," not veterans' use, of the land.
BUSINESS
August 5, 2005 | From Reuters
Lawyers for former American International Group Inc. Chief Executive Maurice "Hank" Greenberg have questioned a decision to cut $2.26 billion from the insurer's net worth and said PricewaterhouseCoopers' role in the insurer's accounting woes should be examined.
BUSINESS
April 22, 2003 | From Bloomberg News
Amerco, parent of U-Haul International Inc., sued PricewaterhouseCoopers for $2.5 billion Monday, accusing the world's largest accounting firm of providing bad advice that nearly led to bankruptcy. Reno-based Amerco said Pricewaterhouse structured off-the-books entities to help U-Haul legally avoid putting real estate-related losses on its books.
BUSINESS
July 18, 2002 | Associated Press
PricewaterhouseCoopers has agreed to pay $5 million to settle allegations by federal regulators that it broke rules meant to ensure that auditors remain independent from the companies whose books they oversee. PricewaterhouseCoopers neither admitted nor denied wrongdoing in the settlement that the Securities and Exchange Commission announced. The firm agreed to be censured for engaging in improper professional conduct and to make changes in how it operates, the agency said.
BUSINESS
May 12, 2001 | Bloomberg News
PricewaterhouseCoopers Chief Executive Jim Schiro, 56, will retire as soon as a successor is found, the world's largest accounting firm said. No reason was given by the company for Schiro's departure. Schiro said earlier that "the timing was right." Mandatory retirement age for the firm's partners is 60, the company said. The process of finding a successor will take six to nine months, a spokesman said.
BUSINESS
June 28, 2002 | From Bloomberg News
WASHINGTON -- PricewaterhouseCoopers, the largest accounting firm, agreed Thursday to make a "substantial payment" to the Internal Revenue Service for promoting abusive tax shelters and will tell the tax collector about clients who used them. The firm, which didn't admit wrongdoing or legal liability, will pay the undisclosed amount for advising clients on tax shelters since 1995.
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