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PwC Denies Rap Star's Claims NEW YORK, Sept. 1, 2000 (SmartPros) Responding to reports about a lawsuit against PricewaterhouseCoopers filed by rap music star Dr. Dre, a PwC spokesman said the Big Five firm denies the allegations. "The claims are misguided, misplaced, and ought to be directed against Death Row Records and other parties," PwC spokesman Steven Silber said. In a 1997 lawsuit filed against what was then Coopers & Lybrand, half of the entity that now makes up accounting and consulting powerhouse PricewaterhouseCoopers, Dre, whose real name is Andre Young, alleged that Gelfand, Rennert & Feldman, a firm once owned by PwC, mismanaged his finances, bilking him out of more than $20 million, according to a report by Reuters. According to the suit, Dre claims the accounting firm failed to pay him $6 million in salary, $1.1 million in artist advances, $3 million in publishing advances, and millions more in royalties, Reuters said. "There's nothing new in the case," Silber added. "It's been in litigation for years. They just found a reporter to publicize the lawsuit." -- By Melissa Klein Send comments to information@smartpros.com 2000, Smartpros Ltd. All Rights Reserved. |
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