NU Online News Service, Sept. 10, 3:36 p.m. EDT

A New York state appeals court is scheduled to hear arguments on Sept. 14 that American International Group's (AIG) auditor failed to unearth the alleged fraud the company perpetrated and should be held liable for it.

In the case, a Delaware court threw out a suit, Teachers Retirement System of Louisiana v. American International Group, because it was determined that AIG employees committed the fraud and the auditor, PricewaterhouseCoopers should not be held negligent for failing to identify the fraud.

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