Law360, New York (September 09, 2011, 4:29 PM ET) -- Former directors of a Lehman Brothers Holdings Inc. unit that issued mortgage-backed securities told a New York bankruptcy judge Thursday that ex-CEO Richard Fuld's request for $90 million in insurance money to fund a shareholder class action settlement shortchanges them.
Lana Franks Harber, Edward Grieb, Richard McKinney, Kristine Smith, James J. Sullivan, Samir Tabet and Mark Zusy — formerly of Debtor Structured Asset Securities Corp. — objected to Fuld's request, which was made alongside a second group of former Lehman executives.
A hearing on the matter...
Ex-Lehman Execs Tangle Over $90M In Insurance Funds
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