Lehman Brothers Financial SA (LEHNQ)

[slimugrian]

Docket # 7531
Filed Mar 11 2010
Examiners Report / Report of Anton R. Valukas

Volume 2, page 214

(3) Summary of Findings and Conclusions
The Examiner finds insufficient evidence to support a finding that Lehman’s
valuations of its RWL, RMBS, CDO or derivative positions were unreasonable during
the second and third quarters of 2008. Although the Examiner identifies, and discusses
below, certain problematic issues related to the price testing of these asset classes, these
problems either did not impact the ultimate asset values determined or the resulting
valuation errors were immaterial.[color=red][/color]