A Seattle credit union that accounting giant Grant Thornton accused of concealing material information has agreed to pay it $700,000 in a settlement.

Chicago-based Grant Thornton had sued Seattle Telco Federal Credit Union to recover more than $2 million in legal fees the accounting firm incurred in fighting prior litigation by a Seattle Telco affiliate. The affiliate had sought to blame Grant Thornton for its 1993 failure, but a judge ruled in favor of the accounting firm in that case.

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