Lehman, Lloyd's Try To Block Securities Action Claim

Law360, New York (November 11, 2010, 3:09 PM EST) -- Bankrupt Lehman Brothers Holdings Inc. and Lloyd’s of London have urged a judge to stop RSL Communications Inc. investors from seeking insurance coverage for as much as $75 million in damages over the investment bank's alleged issuance of misleading securities research reports.

Lehman and a group of Lloyd’s underwriters filed briefs Wednesday in the U.S. Bankruptcy Court for the Southern District of New York contending there are no benefits available because the policies were “terminated” in 2004.

Neither brief specified the precise reason for killing off...
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