Lehman Brothers | featured news

A judge on Tuesday approved a set of settlements among Lehman Brothers entities that will allow the company's defunct brokerage to pay back about $15 billion in customer claims.

A rally on Wall Street will be put to the test next week, with the S&P 500 at its highest level since before the collapse of Lehman Brothers in 2008.

He set out to create a mini-Goldman Sachs. In the end, he built a mini-Lehman Brothers. Former New Jersey Gov. Jon Corzine's resignation Friday from the securities firm he led capped a week of high drama and swift failure. Less than a week ago, Corzine had expected to sell his firm, MF Global. By week's end, it had collapsed into bankruptcy. And Corzine had hired a criminal defense lawyer in the face of an investigation of the firm by the FBI and federal prosecutors.

It is “likely” that the SEC got rid of “some documents” from inquiries it decided not to pursue involving Bernard Madoff and such major financial firms as Goldman Sachs, Bank of America, Lehman Brothers and SAC Capital, a senior SEC official said Wednesday.

The Lehman executives and directors are accused a shareholder lawsuit of misleading investors about the investment bank's health in the months leading up to its collapse.

The U.S. government's investigation into the Lehman Brothers collapse has hit daunting hurdles that could result in no civil or criminal charges ever being filed against the company's former executives.

The New York attorney general says the accounting firm helped enable fraud at Lehman Brothers.

The recession left behind a graveyard of corporate carcasses, from Circuit City to Linens n' Things to Lehman Brothers. Thousands of smaller businesses closed. AIG, Fannie Mae and Freddie Mac are staggering along as wards of the state.

Lehman Brothers' European administrator said it has gained control of $48.6 billion of securities and cash and returned $14.3 billion of assets to clients in the 18 months since the U.S. investment bank collapsed.

Failings by Lehman executives and its auditor led to the collapse of the bank which unleashed the worst of the financial crisis, according to a report by a U.S. bankruptcy court-appointed examiner.