Deloitte is to pay $19.9m in a settlement
following a lawsuit brought by shareholders of former investment
bank Bear Sterns, alleging Deloitte helped to mislead them over the
bank’s financials.

In the suit shareholders accused Deloitte of
misstatements in Bear Sterns audits in 2006 and 2007.

JPMorgan, which bought Bear Sterns as the
share prices of the investment bank plunged in 2008, has already
agreed to a $275m settlement to the same group of shareholders.

Both settlements are still subject to approval
by the New York District Court.