The Resolution Law Group: UBS Agrees to Pay $120 Million in Lehman Bros. Dispute

UBS 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 in connection with the sale of structured notes.

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 roughly $900 million of Lehman securities that UBS (UBS) underwrote and sold between March 2007 and September 2008, court papers show. Lehman filed for bankruptcy protection on Sept. 15, 2008.

UBS had no immediate comment on the settlement. Lawyers for the investors didn’t immediately respond to requests for comment.

 UBS 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 in connection with the sale of structured notes.

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 roughly $900 million of Lehman securities that UBS (UBS) underwrote and sold between March 2007 and September 2008, court papers show. Lehman filed for bankruptcy protection on Sept. 15, 2008.

UBS had no immediate comment on the settlement. Lawyers for the investors didn’t immediately respond to requests for comment.

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