Welcome to the Lehman Brothers Equity/Debt
Securities Litigation Website

On July 17, 2014, pursuant to the Court's Pretrial Order No. 86 (Payment of Eligible Claims-In-Process, Late Adjusted Claims, and Late Submitted Claims), payments were made to all Authorized Claimants whose claims were approved by the Court for payment subject to the requirements set forth in the Order. Authorized Claimants whose distribution amounts were less than the $10.00 threshold requirement for the Director & Officer Net Settlement Fund and the Underwriter Net Settlement Fund did not receive a payment.

On August 16, 2013, pursuant to the Order Approving Distribution Plan (the "Distribution Order"), payments were made to all Authorized Claimants whose claims were approved by the Court for payment subject to the requirements set forth in the Distribution Order. Authorized Claimants whose distribution amounts were less than the $10.00 threshold requirement for the Director & Officer Net Settlement Fund and the Underwriter Net Settlement Fund did not receive a payment.

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

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

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