Ernst & Young Sued for $10M+ for Incorrect Software Valuation
Thursday, June 27, Canadian software-holding company Pan-Afric Holdings Ltd. sued Ernst & Young LLP in U.S. District Court in Maryland for over $10 million in damages, claiming the accounting giant made mathematical errors in preparing a software valuation report on which Pan-Afric detrimentally relied. In 1993, for $5 million, Pan-Afric purchased an interest (including all…