Lehman Brothers Holdings Capital Trust III (LEHKQ)

[camaro4me]

Class Action Lawsuit Against the BNYM, as Trustee

They are looking for shareholders who are interested in joining a class action lawsuit against the BNYM, as Trustee, for breaching their fiduciary duty to require Lehman Brothers Holdings Inc. to file the subordinated guarantee certificates annually. It is the responsibility of the Trustee each year to make sure the certificates are filed.


Quote:
Lehman Brothers Holdings, as guarantor, will be required to file annually with the guarantee trustee a certificate as to whether or not Lehman Brothers Holdings is in compliance with all the conditions and covenants applicable to it under the guarantee.



The failure to file the certificates allowed LBHI to ignore their obligations under the subordinated guarantee resulting in a combined loss to shareholders up to $1.2 billion dollars.

If you are a shareholder and you feel that you are harmed by the BNYM, as the trustee, for their failure to require the filings of the certificates, include the following information in an email and send it to

[e-mail]



Information to be included on the email

Name
Address
Contact number
email

Number of shares
Date Acquired