4Kids, Lehman Reach Deal In $36M ARS Dispute

By Erin Coe (October 27, 2011, 10:38 PM EDT) -- 4Kids Entertainment Inc. on Thursday asked a New York bankruptcy court to sign off on the children's entertainment company's settlement of part of its $36 million arbitration proceeding alleging Lehman Brothers Holdings Inc. and others improperly invested most of 4Kids' funds in risky auction rate securities.

In its bid seeking approval of the deal, the company said it resolved its claims filed with the Financial Industry Regulatory Authority against Lehman Brothers Holdings Inc. and three individual account executives, and under the agreement, 4Kids would receive $500,000 from the operative insurer, Lloyd's of London, as part of an excess insurance policy. However,...

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