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State Fund Dismisses Former Officers from Lehman Brothers Suit

Wednesday, June 25, 2014 | 0

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...

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