Aetna Says Claims In $111M Lehman Affiliate Suit Not Too Late

Law360, New York (July 23, 2013, 7:35 PM EDT) -- Aetna Life Insurance Co.'s allegations that it lost $111 million because an asset management affiliate of Lehman Brothers Holdings Inc. improperly swapped out safe securities from a trust account for junk assets weren't filed too late, the insurer told a New York state court Monday.

Aetna has blamed Appalachian Asset Management Corp., a nonbankupt Lehman affiliate, for selling safe securities out of an Aetna trust account and replacing them with $136 million worth of inferior securities on the eve of the investment bank's notorious September 2008...
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