Telxon filed a lawsuit against the accounting firm in 2001 for allegedly not conducting its audits in accordance with the accepted accounting principles from 1996 through 1999. Telxon shareholders filed a securities fraud class action against the company after it had to restate its financial results. Mislead investors were awarded $37 million. Symbol Technologies Inc., a maker of bar code scanners and other inventory management products, acquired Telxon in 2000. PricewaterhouseCoopers has agreed to pay Symbol an $18 million settlement for accounting fraud. (Aug-24-05)
[BUSINESS WEEK]
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