2nd Circ. Won't Revive Lehman Securities Fraud Suit

Law360, New York (December 20, 2012, 7:47 PM EST) -- The Second Circuit on Thursday rejected a bid to revive a $640 million securities fraud suit brought against Lehman Brothers Holdings Inc. by a group of former investors in its real estate interests, validating a lower court's opinion that they had failed to prove that Lehman intentionally misled them. 

A three-judge panel agreed with a New York federal court’s March 2011 dismissal of a suit brought by a group of investors who committed more than $53 million to four Lehman partnerships formed in 2007 as investment...
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