Tag Archives: Lehman Brothers

E&Y Settles Lehman Brothers Securities Suit for $99 Million

On November 27, 2013, the parties to the consolidated Lehman Brothers securities litigation filed with the court a stipulation of settlement pertaining to the securities class action lawsuit brought by Lehman investors against the bankrupt company’s former auditors, Ernst & Young. The accounting firm has agreed to settle the investors’ claims for a payment of … Continue Reading

Lehman Underwriters Agree to $417 Million Securities Suit Settlement

With the addition of a $417 million settlement involving Lehman Brothers’ offering underwriters, the pending settlements in the Lehman Brothers securities class action lawsuit now total $507 million. Nate Raymond’s December 6, 2011 Am Law Litigation Daily article discussing the underwriters’ settlement can be found here. A copy of the December 2, 2011 settlement stipulation … Continue Reading

Fights Worth Watching: Lehman Execs Spar over D&O Insurance, SEC Pursues Chinese Co. Auditor

A group of former executives of a Lehman Brothers subsidiary   is seeking to block the bid by senior Lehman executives to use $90 million of the remaining D&O insurance proceeds to settle the cases pending against them. As discussed here, on August 24, 2011, the senior executives filed a motion with the Lehman bankruptcy court … Continue Reading

Lehman Execs Seek $90 Million in D&O Insurance for Securities Suit Settlement

In a development that undoubtedly will attract comment and controversy, fourteen former Lehman Brothers executives – including former Lehman Chairman and CEO Dick Fuld (pictured) –have reached an agreement to settle the consolidated securities class action litigation that has been filed against them for $90 million. In a separate development, seventeen former Lehman executives have agreed … Continue Reading

Should Former Directors of Failed Firms be Stigmatized?

In an August 2, 2011 post on the New York Times  Dealbook blog entitled “Ex-Directors of Failed Firms Have Little to Fear”(here), Ohio State University Law Professor  Steven Davidoff voices his consternation that the former directors of Bear Stearns and Lehman Brothers seemingly will be able to “continue their prominent careers.” Davidoff seems miffed that … Continue Reading

Lehman Brothers Credit Crisis-Related Securities Suit to Proceed

In a detailed 106-page opinion dated July 27, 2011 (here), Southern District of New York Judge Lewis Kaplan granted in part and denied in part the defendants’ motions to dismiss in the consolidated Lehman Brothers Securities Litigation. Though Judge Kaplan knocked out certain of the plaintiffs’ allegations, what Judge Kaplan called the “core” of plaintiffs’ … Continue Reading