Wash. Sues Lehman Execs Over Subprime Exposure

Law360, New York (May 20, 2009, 12:00 AM EDT) -- The agency that oversees retirement funds for the state of Washington has sued a number of former executives, investment bankers and accountants of bankrupt Lehman Brothers Holdings Inc. to recover more than $100 million in losses allegedly caused by the defendants' failure to disclose the firm's investments in troubled assets.

In a complaint filed Monday in the Superior Court for the State of Washington, the Washington State Investment Board claims that the defendants violated federal and state securities laws by not revealing in offering documents related...
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