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Lehman Brothers Sued In Shareholder Suit

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Last night we were drinking wine in Central Park. The New York Philharmonic was playing "Purple Haze" for their encore, and we'd had enough wine that we didn't mind chatting over the music. The topic of our conversation was how Lehman Brothers had managed to improve the reputations of rumor mongers and short-sellers by consistently proving them right. It was only a matter of time before Lehman Brothers' insistence that its finance were in fine shape and the reality that it was raising money in the capital markets to shore up its balance sheet would meet each other in court, we pointed out.
But you know what? We're behind the times. Class action lawyers work fast and the first shareholder suit has already been brought on behalf of Lehman's shareholders. The ;awsuit names as defendants four high ranking officials: chief executive Richard Fuld, risk management head Christopher O'Meara, former president Joseph Gregory and former chief financial officer Erin Callan.
Shareholder sues Lehman Brothers [BBC]