Hong Kong Opens Probe Into Massive Lehman Losses

Law360, New York (November 13, 2008, 12:00 AM EST) -- Customer anger in Hong Kong over more than $2 billion in losses associated with banks' sale of Lehman Brothers Holdings Inc.'s supposedly low-risk investment products has triggered a vote for a legislative investigation.

In a 47-4 vote Wednesday, lawmakers took the rare step of approving a probe by the business-friendly government, wire services reported. The vote invokes powers to summon bankers and other finance officials and access internal financing documents.

The vote came in the wake of allegations that customers weren't given a full risk picture...
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