Auditor Accountability in Crisis: Deloitte’s Nuclear Settlement Signals New Era for Financial Oversight
The $34 Million Wake-Up Call for Audit Professionals Deloitte’s agreement to pay $34 million to investors burned by the collapse…
Tag: Westinghouse Electric Corporation
Deloitte Reaches $34 Million Settlement Over Failed Nuclear Project Audits
Deloitte has reportedly agreed to pay $34 million to resolve claims over its audit work for a failed nuclear power project in South Carolina. The settlement comes after years of litigation alleging the auditing firm missed warning signs about the troubled construction.
Major Settlement in Nuclear Project Audit Case
Deloitte has reportedly agreed to pay $34 million to investors who claimed the auditing firm failed to identify problems with one of the country’s largest nuclear power projects before its collapse, according to documents filed in South Carolina federal court. The settlement represents one of the largest securities class action settlements against an auditing firm in the past decade, plaintiff lawyers indicated in their filing.