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New York State Attorney General

Chief law officer of New York State; sued Ernst & Young over its Lehman audits in 2010 and settled in 2015.

6 links, 4 backed by primary records

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settled with

  • Ernst & Young LLP 15 Apr 2015 $10M, settled New York’s civil lawsuit (filed December 2010); EY said there were “no findings of wrongdoing” Scholarship & press 1234

    The suit alleged EY helped Lehman hide financial problems; it was a civil suit, not a criminal charge. EY separately agreed in December 2013 to pay $99 million to settle a federal class action by Lehman investors, and denied all liability to the plaintiffs.

  • AmerisourceBergen Jul 2021 part of a $26 billion agreement with the attorneys general of 52 states and territories Primary record 5
  • Cardinal Health Jul 2021 part of a $26 billion agreement with the attorneys general of 52 states and territories Primary record 5
  • McKesson Corporation Jul 2021 part of a $26 billion agreement with the attorneys general of 52 states and territories Primary record 5

involved in

Timeline 4 dates
  1. 15 Apr 2015 Ernst & Young LLP settled with New York State Attorney General
  2. Jul 2021 AmerisourceBergen settled with New York State Attorney General
  3. Jul 2021 Cardinal Health settled with New York State Attorney General
  4. Jul 2021 McKesson Corporation settled with New York State Attorney General
Proof 5 sources
  1. Attorney General Schneiderman Announces Settlement With Ernst & Young Over Auditor’s Involvement In Alleged Fraud At Lehman Brothers, Mondo Visione (reprint of a New York Attorney General release), 15 Apr 2015. Scholarship & press
    Under the terms of the settlement, Ernst & Young will pay $10 million—most of which will go to investors, with the remaining settlement funds to be used to reimburse New York State for investigation and litigation costs.
    concerned Ernst & Young’s role, as Lehman’s auditor, in an alleged fraud involving Lehman’s use of “Repo 105” transactions
  2. Ernst & Young Will Pay $10 Million to End N.Y. Lehman Suit, Accounting Today, 15 Apr 2015. Scholarship & press
    “pleased to put this matter behind us”
    Ernst & Young LLP agreed to pay $10 million to settle New York’s lawsuit accusing it of helping Lehman Brothers Holdings Inc. hide financial problems in the years leading to its 2008 collapse.
  3. Ernst & Young settles Lehman case for $10 million, CBS News, 15 Apr 2015. Scholarship & press
    The settlement of the state lawsuit, filed in 2010, closes out the first case filed against the auditor of a public company under New York securities laws, the Attorney General's office said.
  4. Ernst & Young Settles Lehman Investor Lawsuit for $99 Million, Accounting Today, 2 Dec 2013. Scholarship & press
    Ernst & Young LLP agreed to pay investors $99 million to settle litigation over its auditing of the bankrupt Lehman Brothers Holdings Inc.
    Ernst & Young denies all liability to the plaintiffs
  5. Attorney General James Announces Major Progress on $26 Billion Opioid Agreement, New York State Office of the Attorney General, 27 Jan 2022. Primary record
    Since the agreement in July, which included 52 states and territories
    The deals with Johnson & Johnson, McKesson, Cardinal Health, and Amerisource Bergen have a global value of approximately $26 billion.
    Alongside Attorney General James, the attorneys general of North Carolina, Tennessee, California, Colorado, Connecticut, Delaware, Florida, Georgia, Louisiana, Massachusetts, Ohio, Pennsylvania, and Texas led the negotiations of this multistate agreement
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