Lehman Gets Real Estate Investors' Fraud Suit Tossed

Law360, New York (March 31, 2011, 4:40 PM EDT) -- A New York federal judge on Tuesday tossed a consolidated securities fraud suit that investors filed against former affiliates and executives of bankrupt Lehman Brothers Holdings Inc. over losses stemming from $53 million in real estate partnerships.

Judge Barbara S. Jones granted the defendants' motion to dismiss the suit in the U.S. District Court for the Southern District of New York, finding that the plaintiffs had failed to sufficiently plead their federal Securities Exchange Act claims but declining to extend her jurisdiction to rule on their...
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