New Jersey Sues Former Lehman Executive and Directors

The state of New Jersey has filed a law suit in New Jersey state court alleging fraud by the former executives and directors of the now bankrupt Wall Street firm Lehman Brothers. The complaint alleges that Lehman’s executives misstated the firm’s financial position in 2008, leading the state to make investments in Lehman’s shares during […]

Lehman to Raise Capital after Posting Large Loss

The Wall Street banking firm, Lehman Brothers posted a $2.8 billion loss for the second quarter. To allay concerns that it would fail, the bank stated that it would raise $6 billion to strengthen its finances. The publicly traded firm intends to raise this capital by selling common stock and convertible preferred shares. The loss […]