Ex-Lehman Execs Want Savings Plan Action Tossed

Law360, New York (January 21, 2011, 6:41 PM EST) -- Former directors of Lehman Brothers Holdings Inc. have pressed a federal judge to toss a case brought by employee-investors over the investment bank's collapse, saying they had no duty to share nonpublic information with retirement plan managers.

Several courts have already ruled that directors do not have to disclose all they know about a company even if they have some legal responsibility for employee retirement plans, the directors said Thursday in a brief filed in the U.S. District Court for the Southern District of New York....
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