Ernst & Young is accused of covering up Lehman's shaky finances

Lehman Brothers headquarters in New York City
New York state Attorney General Andrew Cuomo sued Ernst & Young, claiming the huge accounting firm helped Lehman Bros. conceal its deteriorating financial condition before going bankrupt. The complaint focuses on a series of short-term transactions that allowed Lehman to understate its liabilities in its financial statements, which were approved by Ernst & Young. The firm said it will fight the lawsuit. Full story here