| Company: | Lehman Brothers Holdings Inc. |
| Ticker Symbol: | NYSE: LEH |
| Class Period: | September 13, 2006 to July 30, 2007 |
| Date Filed: | May-06-08 |
| Lead Plaintiff Deadline: | June-30-08 |
| Court: | Nothern District, IL |
| Allegations: |
A proposed class-action lawsuit on behalf of purchasers of Lehman Brothers Holdings Inc. ("Lehman" or the "Company") (NYSE: LEH) securities between September 13, 2006 and July 30, 2007, inclusive (the "Class Period") was filed in the United States District Court for the Northern District of Illinois.
If you purchased Lehman securities during the Class Period, you may, no later than June 30, 2008, request that the Court appoint you as a lead plaintiff for the Class. A lead plaintiff is a class member that acts on behalf of other investors in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
In the complaint, the plaintiff alleges that Lehman and the other defendants failed to fully disclose: (i) the nature and extent of Lehman's exposure to losses incurred from trading in subprime mortgage backed derivatives; (ii) the nature and extent of its exposure to losses incurred from CDOs; (iii) the nature and extent of its exposure to losses incurred from mortgage backed security originations; (iv) that the Company had materially overvalued its positions in commercial and subprime mortgages and in securities tied to these mortgages; (v) that the Company had inadequate reserves for its mortgage and credit related exposure; (vi) that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles; and (vii) that the Company lacked adequate internal and financial controls.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
If you purchased Lehman securities during the Class Period, you may, no later than June 30, 2008, request that the Court appoint you as a lead plaintiff for the Class. A lead plaintiff is a class member that acts on behalf of other investors in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
In the complaint, the plaintiff alleges that Lehman and the other defendants failed to fully disclose: (i) the nature and extent of Lehman's exposure to losses incurred from trading in subprime mortgage backed derivatives; (ii) the nature and extent of its exposure to losses incurred from CDOs; (iii) the nature and extent of its exposure to losses incurred from mortgage backed security originations; (iv) that the Company had materially overvalued its positions in commercial and subprime mortgages and in securities tied to these mortgages; (v) that the Company had inadequate reserves for its mortgage and credit related exposure; (vi) that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles; and (vii) that the Company lacked adequate internal and financial controls.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
