Litigation
Oct. 18, 2012
Federal judge allows California fraud lawsuits against Lehman executives to continue
California municipalities can continue to pursue claims of accounting fraud and securities violations against former executives and auditors of the bankrupt Lehman Brothers, but a judge significantly narrowed the case.
Daily Journal Staff Writer
A New York federal judge has allowed a group of California municipalities to pursue its accounting fraud and securities violation claims against directors and officers of defunct investment bank Lehman Brothers Holding Inc. and a major accounting firm. The ruling is expected to be a bellwether for dozens of similar pending cases.
But it wasn't all good news for the plaintiffs. Monday's 66-...
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