PricewaterhouseCoopers LLP is asking a federal judge to trim back the Federal Deposit Insurance Corp.'s $1 billion lawsuit that alleges the accounting firm failed to catch the massive fraud that brought down Colonial Bank, Dow Jones Daily Bankruptcy Review reported today. The auditor and fellow accounting firm Crowe Horwath LLP say that they're not accountable for the multibillion-dollar mortgage finance fraud involving the multiple sales of the same bad loans.
