UBS (UBS -0.6%) settles litigation over a $2.7B accounting fraud with a $217M payment to...


UBS (UBS -0.6%) settles litigation over a $2.7B accounting fraud with a $217M payment to HealthSouth (HLS +0.7%) shareholders and bondholders. Ernst & Young, HealthSouth's accountant, will kick in $33.5M of its own for bondholders; it settled separately with shareholders last year for $109M.
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  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    Ahh another UBS moment. Pay 217M for 2.7B in fraud? and we wonder why they keep doing it. The punishment is a joke compared to the reward.
    23 Apr 2010, 11:33 AM Reply Like
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