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Investors Renew Class Action Against Lehman Directors

Law360 (December 6, 2010, 5:42 PM EST) -- A group of investors has lodged a second amended complaint in a putative class action against Lehman Brothers Holdings Inc.'s former directors over the management of an employee stock ownership plan that lost value when the firm failed.

Filed in September and unsealed by Judge Lewis A. Kaplan of the U.S. District Court for the Southern District of New York on Friday, the second amended complaint seeks to add evidence that the 12 defendants breached their fiduciary duties.

"Essentially, what we tried to do was address...
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