Lehman Shareholders Face Long Line Of Creditors

Law360, New York (September 15, 2008, 12:00 AM EDT) -- Plaintiffs firms will be punching the numbers, but, unless they can prove fraud on the market, shareholders of newly bankrupt Lehman Brothers Holdings Inc. will be queuing up at the back of a long line of creditors for a slice of what little pie is left.

While the accounts of the investment bank's U.S. retail securities customers are assured of protection by a special reserve fund authorized by Congress, Lehman's shareholders — who saw their stock plummet from $68 in February to 23 cents on Monday...
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