PwC and Standard Chartered Bank settle claim

The bank claimed PwC gave it flawed advice when it was considering buying the United Bank of America in 1987.

Standard sued and was awarded record damages of $341 million, but the ruling was overturned.

Many of the charges against PwC were thrown out but Standard was allowed to put in a claim of negligent misrepresentation. The bank again sought to rake in $341 million plus interest.

The sum paid out by PwC in settlement has not been disclosed