Lehman Seeks $500 Million in Bonus ‘Damages’ From Barclays

Barclays Plc underpaid for Lehman Brothers Holdings Inc.’s North American businesses in 2008 when it spent $500 million less on bonuses for former Lehman employees than it should have, the bankrupt firm said.

Lehman, which lost a bid to recoup an alleged $11 billion windfall from London-based Barclays, said it is counting the bonuses as part of the sale price even if the money was owed to its former employees. In a court filing yesterday, it asked a judge to order the U.K. bank to pay the money to the estate as a form of “damages.”