Aug 9 UBS AG has agreed to pay $120
million to settle a lawsuit by investors who accused the Swiss
bank of misleading them about the financial condition of Lehman
Brothers Holdings Inc in connection with the sale of structured
The preliminary settlement was disclosed in papers filed
late Thursday in the U.S. District Court in Manhattan, and
requires court approval.
It resolves claims over close to $1 billion of Lehman
structured notes that UBS sold between March 2007 and September
2008. Lehman filed for bankruptcy protection on Sept. 15, 2008.