Lehman To Drop Its Beef Over Nomura's $720M Claims

Law360, New York (January 5, 2012, 9:54 PM EST) -- Bankrupt Lehman Brothers Holdings Inc. on Thursday dropped its suit and withdrew its objection to Nomura International PLC's $720 million in claims stemming from a derivative swap agreement.

The bankrupt firm had launched a hotly worded complaint against Nomura in April 2010, calling the Japanese bank's claims baseless and egregious and asserting that the bank actually owed Lehman tens of millions of dollars.

In Thursday's stipulation for dismissal, the parties agreed to drop the claims with prejudice and without costs to either side. Neither party's attorneys...
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