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Fuld Asks Dismissal Of Repo 105 Suit
Jun 22, 2010
According to a story at Bloomberg.com:“ Lehman Brothers Holdings Inc.’s ex- Chief Executive Officer Richard Fuld asked a judge to dismiss a lawsuit accusing him and his colleagues of failing to disclose Repo 105, a financing method allegedly used to conceal billions of dollars of debt, according to court records.”
While the BRC does claim this case represents an anti-business animus, it clearly bears watching: Lehman’s auditor, Ernst & Young LLP, claims that its work was sound and has also asked the judge to dismiss the lawsuit, which was filed April 23 on behalf of several goverenment retirement funds.