Saturday, 20 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.