Judge Approves $90M Settlement With Lehman Officers, Directors

Judge Approves $90M Settlement With Lehman Officers, Directors

NEW YORK - A federal judge in New York on May 24 approved a $90 million settlement between former Lehman Brothers Holdings Inc. directors and officers and a proposed class of Lehman investors, settling claims that the executives misled the investors about Lehman's true exposure to subprime mortgages before its 2008 collapse (In re: Lehman Brothers Securities and ERISA Litigation, MDL No. 09-2017, (In re: Lehman Brothers Equity/Debt Securities Litigation, No. 08-5523), S.D. N.Y.). See related prior history, 2012 U.S. Dist. LEXIS 65167. A complimentary copy of the memorandum and order is attached.

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