Wednesday, 1 April 2015
Last updated 3 hours ago
Apr 20 2010 | 12:05pm ET
What’s left of Lehman Brothers has subpoened a quartet of prominent hedge funds as part of its investigation of outside firms that may have greased the wheels towards its demise.
The bankrupt investment bank filed the subpoenas on Friday in federal bankruptcy court in Manhattan, seeking information from Citadel Investment Group, Greenlight Capital, Och-Ziff Capital Management and SAC Capital Advisors. Lehman last year hired litigation firm Kasowitz Benson Torres & Friedman to look into “possible prosecution of certain litigation” against firms that it thinks may have hurt it as it collapsed in 2008.
The hedge funds subpoenaed are believed the have been shorting Lehman shares during the financial crisis.
Lehman also subpoenaed Goldman Sachs on Friday.
Lehman is conducting its own investigation—separate from that of examiner Anton Valukas released last month—into its collapse. The firm won the right to issue subpoenas in November.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…