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Rating:Lehman Parent Gets Pass in Canary Suit Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 12, 2005

Lehman Parent Gets Pass in Canary Suit

by: Theresa Sim

A judge in a class action suit against Canary Capital and several related companies, including J.P. Morgan and Lehman Bros., has dismissed Lehman Bros.' parent company, Lehman Brothers Holdings Inc., from the suit, reports MarketWatch.

Lehman Brothers remains a defendant in the case.

Plaintiffs in the case added Lehman Brothers as a defendant in September of 2004, alleging that employees in Lehman Brothers' Chicago office provided access to Canary to allow it to trade in and out of several of Federated Investor mutual funds. The suit alleges that a Lehman broker based in Chicago contacted Canary offering the rapid-trading.  

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