Judgment of $182.9 Million Upheld Against PriceWaterhouseCoopers

The U.S. Third Circuit Court of Appeals upheld a 2005 judgment of $182.9 million Tuesday against PriceWaterhouseCoopers in connection with the accounting firm's handling of the Ambassador Insurance Co. liquidation, the Vermont Banking, Insurance, Securities and Health Care Administration (BISHCA) announced Wednesday.The decision was in favor of Paulette J. Thabault, commissioner of the the agency, who is the court-appointed receiver for Ambassador Insurance, the agency said.State regulators seized New Jersey-based Ambassador in 1983 and placed the carrier into court-supervised rehabilitati...