Lehman Strikes $2M Deal With American Eagle, Tribe

Law360, New York (March 2, 2011, 7:52 PM EST) -- Lehman Brothers Holdings Inc. has asked a bankruptcy judge to allow its insurer to cover $2 million in settlements with American Eagle Outfitters Inc. and a California Indian tribe that sued over failed investments.

The clothing retailer and the Tule River Tribe had filed Financial Industry Regulatory Authority arbitration proceedings against Lehman over their investments in auction rate securities, according to Lehman's motion, filed Monday in the U.S. Bankruptcy Court for the Southern District of New York.

Lehman asked the court to modify the automatic stay...
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