Industry NewsTechnology

Feds to drop some charges in Wolff case

Former Homestore exec claims some evidence modified
Published on Nov 23, 2009

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by CareyBot

Government prosecutors have moved to drop four charges that former Chairman and Chief Executive Officer Stuart Wolff misled the company's accounting firm about "round-trip" advertising deals that later forced the company to restate millions of dollars in earnings.

The move follows accusations by Wolff's attorneys that employees of the accounting firm, PricewaterhouseCoopers, modified or destroyed evidence in the case, which the company denies (see story).