PricewaterhouseCoopers Releases Statement on Potential Fraud – Using Coopers & Lybrand Name

It has been brought to our [PricewaterhouseCoopers] attention that individuals purporting to be from an organization calling itself ‘Coopers & Lybrand’ or ‘Coopers & Lybrand Law’ (and using a web site which includes ‘cooperslybrandlaw’, or a variation on this phrase, in its domain name) have been approaching potential investors to sell or buy shares in certain companies which we believe are worthless. There is no law firm called ‘Coopers & Lybrand Law’. This organization is using the ‘Coopers & Lybrand’ name without our consent and such use is illegal and infringes our intellectual property rights.

The facts are that ‘Coopers & Lybrand’ was the name of some of our predecessor firms which, in July 1998, merged with Price Waterhouse firms to form the global network of PricewaterhouseCoopers firms. We no longer use the ‘Coopers & Lybrand’ name or brand.

If you are contacted by anyone using the name ‘Coopers & Lybrand’ or ‘Coopers & Lybrand Law’ in relation to financial investments or otherwise, please contact Daniel Pocus if you are in the United States and Mike Davies, Director, global public relations, if you are outside the United States.