The Traderszone Network

Published in TZ Latest News 10 July, 2015 by The TZ Newswire Staff

Lehman’s Fuld defeats employee lawsuit over retirement losses

A U.S. federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank plunged into its 2008 bankruptcy. U.S. District Judge Lewis Kaplan in Manhattan rejected claims that Fuld breached an obligation to share what he knew about Lehman’s fast-deteriorating finances with officials who oversaw the plan, where Lehman stock was an investment option.

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