Lehman Retirement Plan Sues Former Chief Fuld Over Repo 105 Transactions
A Lehman Brothers Holdings Inc. 401(k) retirement plan and its participants sued ex-Chief Executive Officer Richard Fuld and other former executives of the defunct firm for failing to disclose Repo 105 transactions, a financing method allegedly used to conceal billions of dollars of debt, according to court records.
The amended lawsuit, based partly on a 2,200-page report by Lehman bankruptcy examiner Anton Valukas, was filed under seal in September and ordered unsealed by a judge on Nov. 30, according to a filing in U.S. District Court in Manhattan.
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