Ernst & Young Pays $10 Million To Settle Lehman Brothers Audit Failure Lawsuit

Chatterjee, Pratap

Date Written:  16/04/2015
Year Published:  2015  
Resource Type:  Article
Cx Number:  CX17515

Ernst & Young, one of the Big Four auditing firms, has agreed to pay a $10 million to New York state to settle a lawsuit for overlooking accounting gimmicks by Lehman Brothers, the defunct Wall Street bank. The scheme allowed Lehman to hide billions of dollars in bad deals.

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