UBS, Credit Suisse Settle With Parmalat For $548M
UBS will pay €184 million, or $283.1 million, and Credit Suisse will pay €172.5 million, or $265.4 million, to settle litigation related to accusations that they helped Parmalat executives hide debt and inflate results.
The UBS sum settles claw-back and damages claims. The bank said that the settlement will have a negligible effect on its earnings because of provisions it...
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