PwC has indicated that a network of fraudsters are using the name of pre merger company.
Coopers & Lybrand ceased to be in 1998 after in merged with Price Waterhouse.
However in a statement PwC has cautioned that a group of individuals purporting to be from an organisation calling itself 'Coopers & Lybrand' or 'Coopers & Lybrand Law' are operating a potential scam.
The group uses a website called 'cooperslybrandlaw', or a variation on this phrase, in its domain name.
The scammers have been approaching potential investors to sell or buy shares in certain companies PwC believe are worthless.
There is no law firm called 'Coopers & Lybrand Law' and the organisation in question is using the 'Coopers & Lybrand' name without consent and such use is illegal and infringes on PwC intellectual property rights.