Lehman Subpoenas Citadel, SAC Over Bankruptcy

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.


In Depth

Fund Focus: Asian Frontier Capital Offers U.S. Investors Access To Untapped Markets

Mar 2 2015 | 6:47am ET

Hong-Kong based asset manager Asian Frontier Capital is making a capital raising...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk Management: The Due Diligence Challenge And Branding Opportunity

Mar 2 2015 | 8:41am ET

The hedge fund firms that make it easier for prospective investors to gain comfort...

 

Editor's Note