Peninsula News

Court: San Mateo County can go after Lehman Bros.

Tuesday, October 16, 2012

A federal court has ruled the County of San Mateo can go after Lehman Brothers. The county lost more than $150 million after Lehman went bankrupt in 2008.

The U.S. Court's decision allows the county of San Mateo to move forward on claims that Lehman's accounting gimmicks, which allegedly led to its collapse, began years earlier than had been previously reported and investigated.

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