Bloomberg News

New York Attorney General Seeks to Pursue Ernst & Young Lawsuit

February 18, 2012

Feb. 18 (Bloomberg) -- Ernst & Young LLP, former auditor of bankrupt Lehman Brothers Holdings Inc., should “disgorge” $125 million in fees earned in an alleged fraud that used so-called Repo 105 transanscations to conceal tens of billions of dollars in debt, New York officials said in a court filing.

New York Attorney General Eric Schneiderman made the filing in U.S. District Court in Manhattan today after the auditing firm tried to get the suit dismissed.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net


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