A summary of Southern California-related business litigation developments during the past week.

From United Press International

Union Bank Wins $5-Million Court Award: Accounting firm Arthur Young & Co. (now known as Ernst & Young) was ordered Thursday to pay $5 million to Union Bank of San Francisco for negligence in preparing financial statements on a Los Angeles company. An Orange County Superior Court jury in Santa Ana found the financial statements for Small World Greetings were inadequate and faulted the bank for sloppy lending practices. (Filed May 17, 1988; Case No. X557156)

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