UBS (UBS +0.3%) agrees to pay $160M to settle charges that it participated in a bid-rigging...

|About: UBS Group AG (UBS)|By:, SA News Editor

UBS (UBS +0.3%) agrees to pay $160M to settle charges that it participated in a bid-rigging conspiracy to defraud state and local governments, the Justice Department announces. The bank admits the illegal and anti-competitive conduct by its former employees and accepts responsibility for it, according to the DOJ statement.