Welcome to the Lehman Brothers Equity/Debt
Securities Litigation Website

Proposed settlements in the In re Lehman Brothers Equity/Debt Securities Litigation (the “Action”) have been reached by the Court-appointed Lead Plaintiffs in the Action, Alameda County Employees' Retirement Association, Government of Guam Retirement Fund, Northern Ireland Local Government Officers' Superannuation Committee, City of Edinburgh Council as Administering Authority of the Lothian Pension Fund, and Operating Engineers Local 3 Trust Fund, with (i) certain of Lehman’s officers and directors during the relevant time period (the “D&O Defendants”) for $90,000,000 in cash (the “D&O Settlement”) and (ii) certain alleged underwriters of certain Lehman offerings (the “Settling Underwriter Defendants”) totaling $426,218,000 in cash (the “Underwriter Settlement”). The proposed settlements are subject to Court approval. Please Note: These settlements do not resolve claims against any other defendant in the Action, and the Action is continuing against Ernst & Young, LLP and UBS Financial Services, Inc.

The following are important dates and deadlines in connection with the proposed settlements:

  • The Exclusion Filing Deadline is March 22, 2012.
  • The Objection Filing Deadline is March 22, 2012.
  • The Notice of Intention to Appear at Hearing Filing Deadline is March 22, 2012.
  • The Settlement Fairness Hearing was held on April 12, 2012 at 4:00pm.
  • The Claim Filing Deadline is May 17, 2012.

The Action is a class action lawsuit brought by investors alleging that they suffered damages as a result of material misrepresentations and omissions concerning certain aspects of Lehman’s financial results and operations in violation of the federal securities laws by, among others, the D&O Defendants and the Settling Underwriter Defendants.

Lead Plaintiffs and members of the settlement classes are represented by the law firms of Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check, LLP, the Court-appointed co-lead counsel in the Action ("Lead Counsel").

If you are a member of one or both of the settlement classes involved in the settlements (see definitions of the settlement classes by clicking on the “Class Definitions” tab) and wish to submit a Proof of Claim Form, you can obtain a copy of the Proof of Claim here, or by clicking on the appropriate tab. You only need to submit ONE Proof of Claim Form. The Proof of Claim Form you submit will be reviewed in connection with BOTH the D&O Settlement and the Underwriter Settlement.

Please be sure to read the D&O Notice and the Underwriter Notice to fully understand your rights.