Lehman Brokerage Seeks to Annul New York Pension Fund Claims

Defunct brokerage Lehman Brothers Inc. asked a judge to expunge damage claims by New York State and New York City pension funds arising from Lehman’s role as an underwriter of Countrywide Financial Corp. securities before 2008.

The funds, plaintiffs in a class-action lawsuit against Countrywide, released Lehman when they agreed to settle that suit for $624 million in 2010, the brokerage trustee said in a July 3 filing in U.S. Bankruptcy Court in Manhattan.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Stephen Farr at sfarr@bloomberg.net

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