Ex-Lehman Execs Fight To Toss Securities Case

Law360, New York (June 4, 2010, 7:30 PM EDT) -- Bankrupt Lehman Brothers Holdings Inc.'s former CEO has urged a federal court to throw out a securities fraud class action claiming he and other company officials failed to disclose certain repurchase and resale deals, known as Repo 105 transactions, to allegedly hide the real amount of assets and debt on Lehman’s balance sheet.

Richard Fuld and other former Lehman executives moved to dismiss the case in the U.S. District Court for the Southern District of New York on Friday, arguing that the amended complaint, which was...
To view the full article, register now.