Law360, New York (August 25, 2011, 7:32 PM ET) -- Former CEO Richard Fuld and other directors and officers of defunct investment bank Lehman Brothers Holdings Inc. asked a New York federal court Wednesday to allow their insurers to pay $90 million to settle a putative shareholder class action.
“Confirming the excess policy insurers' ability to make the proposed settlement payment is in the best interests of the debtors' estates and creditors,” Fuld, along with former Chief Financial Officers Christopher O'Meara, Erin Callan and Ian Lowitt, among others, said in a motion to modify the automatic...
Ex-Lehman Execs Seek Coverage Of $90M Settlement
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