Class Claims Trimmed In Lehman Securities MDL Suit

Law360, New York (July 27, 2011, 3:45 PM EDT) -- A New York federal judge on Wednesday trimmed but refused to toss an investor class action, part of a multidistrict litigation, against former officers, directors, auditors and underwriters of Lehman Brothers Holdings Inc. over the bankrupt financial services giant's securities offerings.

U.S. District Judge Lewis A. Kaplan partially granted the defendants' motions to dismiss the suit, part of an MDL stemming from Lehman's demise, brought by institutional and individual investors alleging Lehman overstated its financial condition in the offering materials for more than $31 billion in...
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