UBS To Pay $120M To Settle Claims Over Lehman Brothers Securities Losses

NEW YORK - In a New York federal court on Aug. 8, UBS Financial Services Inc. agreed to pay $120 million to settle federal securities law claims that it misrepresented the investment quality of certain Lehman Brothers securities it sold before Lehman Brothers filed for bankruptcy in 2008 (In re: Lehman Brothers Securities and ERISA Litigation, MDL No. 09-2017 $(In re: Lehman Brothers Equity/Debt Securities Litigation, No. 08-5523$), S.D. N.Y.).

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