Lehman, PBGC Strike $128M Deal Over Pension Plan

Law360, New York (May 8, 2009, 12:00 AM EDT) -- Lehman Brothers Holdings Inc. has asked a judge to approve a deal settling a suit filed by the Pension Benefit Guaranty Corp. that sought to hold Lehman units liable for the unfunded benefits of the bankrupt investment giant’s pension plan.

In the U.S. Bankruptcy Court for the Southern District of New York on Thursday, Lehman filed a motion to approve the $127.6 million settlement.

The settlement would put an end to a suit the PBGC filed in the U.S. District Court for the Southern District of...
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