Lehman Preferred Series "J" Preferred (fka LEHJQ)

[joyceschoice]

Yes I think that's a positive and shows things are still moving along. The article is confusing though.

Does anyone really understand this paragraph?

"The objections to the transfer stemmed from concerns the trustee was transferring some $300 million to $400 million of securities it had used cash to purchase, because the original securities had gone missing or needed to be replaced. Some customers argued that would disadvantage them if there is a shortfall and not all customers can have their claims satisfied."

Were some Lehman customers possibly short some stocks they couldn't find borrow for?