just sued Neuberger Berman
for breach of contract. On Wednesday the BlackRock
parent filed a five-page complaint in federal court in Pittsburgh against the former Lehman Brothers subsidiary, alleging that Neuberger reneged on a deal to trade $40.2732 million to PNC for 26.4 million euros on February 11. PNC claims it lost more than $75,000 grand because the deal fell through.
A spokesman for Neuberger hinted to the Pittsburgh Post-Gazette
that something about the trade is still up in the air.
"The trade in question through Lehman Brothers occurred prior to the bankruptcy," stated the Neuberger spokesman. "We stand ready to settle the trade once all parties involved are in agreement.
Buchanan Ingersoll & Rooney
's Stanley Yorsz
and Kathleen Jones Goldman
represent PNC in the case.
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