PwC Will Appeal $65.5 Million Verdict Over Negligent Tax Advice

PricewaterhouseCoopers LLP intends to appeal an Oregon state jury finding that the Big Four accounting firm owes more than $65 million to the former shareholders of a construction company for providing negligent tax advice.

The Aug. 14 ruling found that PwC owed the former owners of Marshall Associated Contractor Inc. about $65.5 million for being negligent in giving advice over a stock-sale transaction. The accounting firm said it will challenge the finding.

“We stand behind the work we did and strongly disagree with the jury’s decision,” PwC told Bloomberg Law on Thursday. “We will take this up on appeal and ...