Lehman Puts Finishing Touch On MBS Claims Estimation Trial

Law360 (February 8, 2018, 8:35 PM EST) -- Attorneys for Lehman Brothers Holdings Inc. held firm in closing arguments Thursday that trustees accusing the defunct investment bank of selling toxic mortgage-backed securities have failed to show damages claims in excess of the $2.4 billion Lehman will accept.

A New York bankruptcy court-assisted process to evaluate claims against Lehman for allegedly selling billions of dollars' worth of misrepresented home equity loans before its 2008 collapse is coming to a close this week, after 23 days of trial. Over that time, the plan administrator for the former financial behemoth has argued that the trusts holding the residential mortgage-backed securities should be...

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