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Ernst & Young May Face Civil Fraud Charges Over Lehman's Collapse
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Tue Dec 21, 2010 The Associated Press
Accounting firm Ernst & Young LLC may face civil fraud charges in New York for its alleged role in the demise of Lehman Brothers, according to a report. The Wall Street Journal, citing anonymous sources, said in a Monday article that state Attorney General and New York governor-elect Andrew Cuomo may file the lawsuit this week, with the state possibly seeking fines and other penalties. The case alleges that Ernst & Young did not act in the appropriate manner while Lehman misled investors about its financial condition. Read More: http://bit.ly/ihwiVL |
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