NPR logo

UBS To Pay $120 Million In Lehman Brothers Dispute

  • Download
  • <iframe src="https://www.npr.org/player/embed/210484587/210485740" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
UBS To Pay $120 Million In Lehman Brothers Dispute

Business

UBS To Pay $120 Million In Lehman Brothers Dispute

UBS To Pay $120 Million In Lehman Brothers Dispute

  • Download
  • <iframe src="https://www.npr.org/player/embed/210484587/210485740" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Swiss banking giant UBS has agreed to pay $120 million to settle a lawsuit by investors. The case goes back to 2007. Investors said 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 2008.

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.

Copyright © 2013 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

We no longer support commenting on NPR.org stories, but you can find us every day on Facebook, Twitter, email, and many other platforms. Learn more or contact us.