HARTFORD, Conn., June 23, 2008 (LAWFUEL) — The law firm of
Schatz Nobel Izard, P.C., which is one of the leading firms in the
country representing employees who lost money investing in company
stock in their 401(k) retirement plans, is investigating potential
claims against Lehman Brothers Holdings (“Lehman Brothers” or the
“Company”) (NYSE:LEH) for violations of the Employee Retirement Income
Security Act of 1974 (“ERISA”). The investigation involves investments
in the Lehman Brothers Savings Plan (the “Plan”) and whether Lehman
Brothers and other administrators of the Plan may have breached their
ERISA-mandated fiduciary duties of loyalty and prudence to participants
and beneficiaries of the Plan. A breach may have occurred if the
fiduciaries failed to manage the assets of the Plan prudently and
loyally by investing the assets in Company stock when it was no longer
a prudent investment for participants’ retirement savings.
Specifically, Lehman Brothers and the Plan’s other fiduciaries
continued to invest in and hold Lehman Brothers stock in the Plan
despite the Company’s apparent mismanagement of the risk of assets held
by the Company and its failure to maintain adequate capital and
liquidity.
Schatz Nobel Izard, P.C. is also investigating claims on behalf of
those who purchased Lehman Brothers common stock. An action seeking
class action status has been filed in the United States District Court
for the Southern District of New York on behalf of all persons who
purchased Lehman Brothers common stock between September 13, 2006 and
June 6, 2008. The action alleges that Lehman Brothers made materially
false and misleading statements concerning the Company’s financial
condition and its exposure to the credit market meltdown.
If you bought Lehman Brothers stock through your Lehman Savings Plan or
if you purchased Lehman Brothers common stock between September 13,
2006 and June 6, 2008 and would like to learn more about these claims,
please contact Schatz Nobel Izard, P.C. toll-free at (800) 797-5499, or
by e-mail at firm@snilaw.com. For more information about Schatz Nobel
Izard, please visit our website: www.snilaw.com.
