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Corporate & Securities Law

: FinancialCounsel

SNSFE Investigates ERISA Claims Versus Lehman Brothers For Imprudent Investments In Company Stock For Lehman Brothers' Employees

By James Eccleston

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SNSFE attorneys are investigating potential claims against Lehman Brothers Holding (NYSE: LEH) for violations of ERISA. 

The investigation involves investments in the Lehman Brothers Savings Plan and whether Lehman Brothers and other administrators of the Plan might have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plan.  A breach might have occurred if the fiduciaries failed to manage the assets of the Plan prudently and loyally by investing the assets in Company stock when it was no longer a prudent investment for participants' retirement savings.  

Specifically, Lehman Brothers and the Plan's other fiduciaries continued to invest in and hold Lehman Brothers stock in the Plan despite the Company's apparent mismanagement of the risk of assets held by the Company and its failure to maintain adequate capital and liquidity.

Lehman Brothers employees who own Lehman Brothers stock through the Plan may be able to recover some of their losses.  SNSFE continues to investigate and if you have suffered loss as a result of participation in the Plan, please contact attorneys at SNSFE.

Source:  Lawyers and Settlements

Full post as published by FinancialCounsel on June 27, 2008 (boomark / email).

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