Ernst & Young agreed to pay investors $99 million to settle litigation over its auditing of the bankrupt Lehman Brothers Holdings, according to a filing in federal court in Manhattan.
The accord, disclosed by plaintiffs lawyers in a filing last Wednesday in federal court in Manhattan, would resolve claims of investors who bought certain securities issued by the firm from June 12, 2007, to Sept. 15, 2008, the date Lehman filed for bankruptcy, according to the filing. It requires the approval of U.S. District Judge Lewis A. Kaplan.
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