McKinsey & Co. agreed to pay $15 million to settle the U.S. Justice Department allegations that the consulting firm failed to make required disclosures of potential conflicts in three bankruptcy cases it has advised on in recent years.
Source: www.rttnews.com
McKinsey & Company agrees to pay $15 million to settle the U.S. Justice Department allegations regarding improper disclosures of potential conflicts in three bankruptcy cases. The Department of Justice’s U.S. Trustee Program (USTP) has entered into a multi-district settlement agreement with McKinsey, resolving disputes over disclosures. USTP alleged that McKinsey made insufficient disclosures about its clients and investments in certain entities connected to debtors that had hired the consulting firm for financial advice.
