Lehman Manipulated Balance Sheet, Examiner Finds

By Jocelyn Allison

Law360, New York (March 11, 2010, 6:11 PM ET) -- Lehman Brothers Holdings Inc.'s senior officers may be liable for manipulating financial reports in an attempt to hide the effects a crisis of confidence was having on the firm as it neared collapse in 2008, a bankruptcy examiner has found.

Examiner Anton R. Valukas of Jenner & Block LLP said that while the business decisions that led Lehman to its crisis of confidence may not be actionable, steps officers took in response could be, according to a report made public Thursday in the U.S. Bankruptcy Court...
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