In Re Lehman Brothers 2008 ERISA Litigation
July 2008 - A class action filed in the U.S. District Court for the Southern District of New York on behalf of participants and beneficiaries of the Lehman Brothers Savings Plan for violations of the federal pension law (ERISA) in connection with the loss of value in Lehman Brothers stock acquired and held by present and former employees of Lehman Brothers through the Plans. The goal of this litigation is to recover damages sustained by the participants and beneficiaries of the Plans.
Plaintiff's claims as detailed in the complaint arise out of Lehman Brother's misrepresentations and failures to disclose material information related to Lehman Brother's financial exposure, financial results and asset valuations tied to the residential sub-prime market.