October 16, 2013
Ernst & Young LLP has agreed to pay $99 million to settle claims in an investor class action against former officials and auditors of Lehman Brothers Holdings Inc., ending long-running multidistrict litigation over the bankrupt company's securities offerings, according to a memo released Wednesday.
May 03, 2012
A New York federal judge on Thursday cited not only case law but the lyrics of a Kenny Rogers ditty in deciding to hold off on approving a $90 million settlement between Lehman Brothers Holdings Inc. executives and a proposed class of the failed bank's investors.
December 05, 2011
Underwriters for Lehman Brothers Holdings Inc. on Friday agreed to pay $417 million to settle a suit in multidistrict litigation accusing the bank and its underwriters of misleading investors about risky subprime mortgage positions in their securities offerings, including retirement accounts.
September 09, 2011
Former directors of a Lehman Brothers Holdings Inc. unit that issued mortgage-backed securities told a New York bankruptcy judge Thursday that ex-CEO Richard Fuld's request for $90 million in insurance money to fund a shareholder class action settlement shortchanges them.
August 25, 2011
Former CEO Richard Fuld and other directors and officers of defunct investment bank Lehman Brothers Holdings Inc. asked a New York federal court Wednesday to allow their insurers to pay $90 million to settle a putative shareholder class action.