Charities' Fraud Suit Against Ex-Lehman Execs Revived

Law360, Los Angeles (September 12, 2012, 5:10 PM EDT) -- A California appeals court Tuesday revived several charitable foundations' fraud claims against former Lehman Brothers CEO Richard Fuld and other ex-officials of the failed investment bank, saying a trial judge should have allowed the plaintiffs to restate their claims in more detail before final dismissal.

In an unpublished decision issued Tuesday, a three-judge panel of the California Court of Appeal ruled that Los Angeles Superior Court Judge William F. Highberger abused his discretion when he rejected repeated requests by Retirement Housing Group Foundation and other church-related...
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