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.

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

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net