Bridging Finance receiver PwC files $1.4-billion lawsuit against ex-auditor Ernst & Young

Credit Fund's Collapse Leads to $1 Billion Lawsuit Against EY

(Bloomberg) — Bridging Finance Inc.’s receiver is suing Ernst & Young LLP for C$1.4 billion ($1 billion), alleging the auditor failed to detect fraud and misstatements that contributed to the Toronto private lender’s collapse.

Credit Fund’s Collapse Leads to $1 Billion Lawsuit Against EY

Bridging Finance Inc.’s receiver is suing Ernst & Young LLP for C$1.4 billion ($1 billion), alleging the auditor failed to detect fraud and misstatements that contributed to the Toronto private lender’s collapse.

Bridging Finance receiver PwC files $1.4-billion lawsuit against ex-auditor Ernst & Young

PricewaterhouseCoopers Inc. claims EY’s audits failed to catch signs of fraud at the now-defunct lender

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Ernst & Young faces $1.4bn Bridging Finance lawsuit

Ernst & Young is facing a $1.4bn lawsuit over claims that it failed to detect fraudulent activities and misstatements leading to the downfall of Toronto-based private lender Bridging Finance, reported Bloomberg.  The legal action, initiated by the company’s receiver PricewaterhouseCoopers (PwC), was filed with Ontario’s Superior Court last month. According to the claim, Ernst & Young provided unqualified opinions on Bridging’s financial statemen…