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August 04, 2005

Andersen pays $25 million to settle Global Crossing lawsuit

Anderson’s house of accounting horrors has decided to settle the lawsuit brought by investors in its role over the collapse of Global Crossing for $25 million. Earlier, Citigroup settled its share of the lawsuit for $75 million. WebCPA reports that the deal was reached yesterday. Funny how right political connections helped Global Crossing mob-bosses get away mostly scott free, while Bernie faces life behind bars. The criminality of Global Crossing was no less than WorldCon. That is the truest injustice of the broadband bubble. The Andersen settlement will bring the total to $345 million that defendants have agreed to pay to investors, WebCPA adds.

Posted by dymaxion at August 4, 2005 09:51 PM


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