Lehman Suit Seeks Return Of $9B From JPMorgan Bank

Law360, New York (May 26, 2010, 6:19 PM EDT) -- Lehman Brothers Holdings Inc. on Wednesday accused JPMorgan Chase Bank NA, its erstwhile clearing bank, of stripping the now-bankrupt brokerage of $8.6 billion in "desperately needed" cash as Lehman teetered on the brink of collapse in 2008.

The newly filed fraud and unjust enrichment adversary complaint, in the U.S. Bankruptcy Court for the Southern District of New York, was a move that Lehman had told news outlets several weeks ago was coming.

In reaction to the filing, a JPMorgan spokesman called the allegations "ridiculous" and said...
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