Lehman Drops Appeal In $13B Barclays Suit

Law360, New York (September 21, 2011, 5:48 PM EDT) -- Lehman Brothers Holdings Inc. said Wednesday it would no longer pursue its $13 billion dispute with Barclays Capital Inc. stemming from Barclays' purchase of Lehman's assets in 2008, saying further litigation would be a "burden" to its estate.

In addition, Lehman said it will not appeal U.S. Bankruptcy Judge James Peck's Sept. 14 ruling that Barclays did not owe it $500 million in allegedly unpaid bonuses. Lehman had contended Barclays promised to pay Lehman employees $2 billion in bonuses but only handed out $1.5 billion....
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