Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

The litigation between Lehman Brothers International (Europe) (LBIE) and AG Financial Products Inc. (AGFP) regarding derivative loss claims was a long-running dispute in the New York Supreme Court, with key activities occurring between 2011 and 2025.
Key Timeframes and Milestones in AGFP/LBIE Litigation:
Action Commencement: LBIE brought this action against AGFP in 2011.
Initial Motion to Dismiss: The Court determined a motion to dismiss on March 12, 2013.
Trial: The trial took place over a 5-week period in November 2021.
Evidentiary Hearing: An evidentiary hearing occurred on February 28, 2022.
Post-Trial Briefing: Concluded in the summer of 2022.
Initial Judgment: On March 8, 2023, Justice Crane issued a decision in favor of AGFP, with judgment entered on June 30, 2023.
Appeal Process: LBIE filed its initial appeal brief on September 22, 2023, with the Appellate Division affirming the decision on March 14, 2024.
Final Appeal Denial: On January 14, 2025, the New York State Court of Appeals denied LBIE's motion for leave to appeal.
Total Duration:
The lawsuit spanned over 13 years (from 2011 to early 2025). The litigation involved 37 credit derivative transactions.

We get a LBHI Chapter 15 and Swiss home Court stipulation around this time: 😂

Initial Judgment: On March 8, 2023, Justice Crane issued a decision in favor of AGFP, with judgment entered on June 30, 2023.