PricewaterhouseCoopers LLP is facing allegations of a “shocking breach” of confidentiality by one of its former partners over a “quiet coffee” with a banker.
The ex-partner held an “illicit meeting” with a banker advising law firm Slater & Gordon Ltd. spilling details of strategy and financial conditions of the then distressed Quindell Plc, now called Watchstone Group Plc., lawyers for the AIM-listed tech firm said in UK court filings.
Watchstone is seeking £63 million ($77.6 million) in its London suit. Lawyers said Slater & Gordon would have agreed to pay at least £700 million, instead of £637 million, in the 2015 deal for Quindell’s legal services arm had it not taken advantage of the information.
Source: Ex-PWC Partner Accused of Shocking Confidentiality Breach In Banker Meeting – Bloomberg