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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.