State Fund Dismisses Former Officers from Lehman Brothers Suit

By Michael WhiteleyWorkCompCentral CorrespondentThe California State Compensation Insurance Fund has agreed to dismiss three former top executives of failed financial services giant Lehman Brothers from a 2011 federal lawsuit alleging the company misrepresented the risk associated with more than $85 million in investment notes purchased between 2004 and 2008.A joint stipulation filed in U.S. District Court for the Southern District of New York June 3 dismisses former Lehman Brothers Chairman and Chief Executive Officer Richard S. Fuld Jr., former Chief Financial Officer and former Global Chief...