Fri August 9, 2013
UBS To Pay $120 Million In Lehman Brothers Dispute
Originally published on Fri August 9, 2013 11:06 am
LINDA WERTHEIMER, HOST:
NPR's business news starts with more fallout from the financial crisis.
Swiss banking giant UBS has agreed to pay $120 million to settle a lawsuit by investors. The case goes back to 2007. Investors say they were misled about the health of the financial firm Lehmann Brothers when UBS was selling them investments linked to Lehmann's debt. Lehmann collapsed into bankruptcy in September 2008. The settlement resolves claims of about $1 billion. Transcript provided by NPR, Copyright NPR.