PwC Reaches Mid-trial Deal in Lawsuit by Taylor Bean Trustee

PricewaterhouseCoopers has settled a lawsuit accusing the auditing firm of failing to catch the fraud that brought down Taylor, Bean & Whitaker Mortgage Corp in 2009, the mortgage lender’s bankruptcy trustee said on Friday. The settlement ends a civil trial in Miami-Dade County Circuit Court in Florida in which the trustee had sought more than $5.5 billion in damages from PwC. Terms are confidential, a spokesman for the trustee said.