Solar Panel Maker Sues Lehman, Barclays

Law360, New York (October 21, 2008, 12:00 AM EDT) -- Evergreen Solar Inc. has sued Barclays PLC and Lehman Brothers Holdings Inc., alleging the bankrupt investment bank unlawfully transferred $40 million worth of the solar panel maker's shares to the British banking giant, "presumably in connection" with Lehman's asset sale.

In the lawsuit, filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, Evergreen seeks ultimately to recover 30.9 million shares it loaned to Lehman. Evergreen demands that Barclays immediately return 12.2 million shares allegedly obtained from Lehman.

“We are outraged that...
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