Case Page

 

Case Status:    ONGOING    
On or around 10/09/2014 (Ongoing date of last review)

Filing Date: March 04, 2010

According to the complaint filed March 04, 2010, the Defendants failed to inform Plaintiff and Class Members that LBHI intended to use the proceeds from Lehman Principal Protection Notes for general operating purposes for its operating units and subsidiaries. Defendants also failed to inform Plaintiff and Class Members, among other things, that there was a risk that the Lehman Principal Protection Notes would be subject to a diminution in value or worthless in light of LBHI's undisclosed risk of losses from its real estate and mortgage investments, insufficient resources and questionable accounting practices.

On April 15, 2010, the case was transferred from the U.S. District Court for the District of New Jersey to the Southern District of New York as case 1:10-cv-03190. The case was also accepted as related to an existing Multidistrict Litigation, case number 1:09-md-02017-LAK.

On April 3, 2012, the Court issued an Order granting with prejudice the Individual Defendants' motion to dismiss.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 10-CV-01196
JUDGE: Hon. Joel Schneider
DATE FILED: 03/04/2010
CLASS PERIOD START: 05/30/2006
CLASS PERIOD END: 09/15/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Nagel Rice, LLP
    103 Eisenhower Parkway, Nagel Rice, LLP, NJ 07068
    973.618.0400 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 10-CV-03190
JUDGE: Hon. Joel Schneider
DATE FILED: 04/15/2010
CLASS PERIOD START: 05/30/2006
CLASS PERIOD END: 09/15/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Nagel Rice, LLP
    103 Eisenhower Parkway, Nagel Rice, LLP, NJ 07068
    973.618.0400 ·
No Document Title Filing Date