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New York AG Andrew Cuomo files a lawsuit against Ernst & Young for civil fraud, accusing the...

Dec. 21, 2010 11:25 AM ETLehman Bros Hld (LEHMQ) StockLEHMQBy: Carl Surran, SA News Editor12 Comments
New York AG Andrew Cuomo files a lawsuit against Ernst & Young for civil fraud, accusing the accounting firm of helping Lehman (OTC:LEHMQ) hide its financial weakness from investors for years before the bank collapsed in 2008. It's time to hold big accounting firms - "pushers to Wall Street's junkies" - accountable for their role in Wall Street's excesses, Barry Ritholtz says.

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