UBS To Pay $120 Million In Lehman Brothers Dispute

Aug 9, 2013
Originally published on August 9, 2013 12:06 pm
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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. Transcript provided by NPR, Copyright NPR.