NEW YORK — Accounting firm Ernst & Young LLP has agreed to pay $99 million to resolve claims that it encouraged securities fraud by Lehman Brothers Holdings Inc., bringing an end to multidistrict litigation over the investment bank’s securities offerings.
Attorneys for Lehman investors detailed the proposed settlement in an October 9 letter to U.S. District Judge Lewis Kaplan, who is overseeing the Lehman MDL and still needs to approve the deal.
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