UBS To Pay $120 Million In Lehman Brothers Dispute
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 Lehman Brothers when UBS was selling them investments linked to Lehman's debt.
Lehman collapsed into bankruptcy in September 2008. The settlement resolves claims of about $1 billion.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.