Arthur Andersen reached a new $217 million agreement Monday to settle civil cases stemming from the collapse of the Baptist Foundation of Arizona, which lost $570 million belonging to 13,000 mostly elderly investors. The settlement came one week into a trial where the foundation's trust was seeking $150 million in compensatory damages and more in punitive damages relating to Andersen's audit work.
May 07, 2002 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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