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Lehman Dec 17

    Client Attorney Privileged/Attorney Work Product/At Request of Counsel

    Bloomberg - Barclays

  1. Barclays to Sell Former Lehman Bond Benchmarks to Bloomberg

    Dec 16, 2015 | Bloomberg

    By Stephen Morris

    Barclays Plc agreed to sell the indexing business built around former Lehman Brothers benchmarks to Bloomberg LP for about 520 million pounds ($781 million), as Chief Executive Officer Jes Staley speeds up disposals of unwanted assets.
  2. Bloomberg To Acquire Former Lehman Bond Benchmarks from Barclays

    Dec 16, 2015 | Traders Magazine

    By Phil Albinus

    These former Leham Bros. benchmarks are tools used by corporate bond portfolio managers, and include the Global Aggregate. Barclays acquired these benchmarks as part of its acquisition of the North American division of Lehman Brothers Holdings after the Wall Street brokerage firm imploded during the credit crisis of 2008.

    3. Preferred Series “J” Stock Series

  3. Lehman Brothers Class Action Lawsuit Filed

    Dec 17, 2015 | Voice Observer

    By Gregory Rogers

    A Lehman Brothers class action suit has been filed on behalf of investors who purchased Lehman Preferred Series “J” stock shares issued between February 5, 2008 and September 15, 2008. The lawsuit was filed against several Lehman executives, as well as firms that underwrote the offering, claiming that false and misleading statements were...

    4. Full Text of Stories Below

    Client Attorney Privileged/Attorney Work Product/At Request of Counsel

    Bloomberg - Barclays

  1. Barclays to Sell Former Lehman Bond Benchmarks to Bloomberg

    Dec 16, 2015 | Bloomberg

    By Stephen Morris

    Barclays Plc agreed to sell the indexing business built around former Lehman Brothers benchmarks to Bloomberg LP for about 520 million pounds ($781 million), as Chief Executive Officer Jes Staley speeds up disposals of unwanted assets.

    ...The bank’s indexes, such as the Global Aggregate, are widely used as corporate bond benchmarks by portfolio managers. Much of the business was acquired in 2008, when Barclays absorbed Lehman Brothers Holdings Inc.’s North American unit. Staley, a 58-year-old veteran of JPMorgan Chase & Co., was hired by Chairman John McFarlane in October to accelerate the bank’s restructuring and refocus on its most profitable British and U.S. businesses.

    ...The indexes Barclays acquired from Lehman were the first to be published, beginning in 1973, the firm said at the time of the transaction. Barclays combined the Lehman benchmarks with its own and renamed the amalgamated measures the “Barclays Capital Indices” in November 2008.

    While the purchase prices equates to $781 million at today’s exchange rate, Barclays gave it a $790 million value in the statement, using a rate of $1.52 per pound.

    For full story: http://www.bloomberg.com/news/articles/2015-12-16/barclays-sells-indexing-division-to-bloomberg-for-781-million

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  2. Bloomberg To Acquire Former Lehman Bond Benchmarks from Barclays

    Dec 16, 2015 | Traders Magazine

    By Phil Albinus

    These former Leham Bros. benchmarks are tools used by corporate bond portfolio managers, and include the Global Aggregate. Barclays acquired these benchmarks as part of its acquisition of the North American division of Lehman Brothers Holdings after the Wall Street brokerage firm imploded during the credit crisis of 2008.

    This Bloomberg sale is part of plan by Barclays CEO Jes Staley to rid the English bank of unwanted but still valuable assets. According to a Bloomberg news report, Barclays “will post a 480 million-pound gain from selling the risk analytics and index solutions business, boosting its regulatory capital level by 0.1 percentage point, according to a statement Wednesday from the London-based bank.”

    ...The indices Barclays acquired from Lehman were the first to be published in 1973, the firm said at the time of the transaction. Barclays then combined the Lehman bond benchmarks with its own and renamed them the “Barclays Capital Indices” in November 2008.

    For full story: http://www.tradersmagazine.com/news/brokerage/bloomberg-to-acquire-former-lehman-bond-benchmarks-from-barclays-114774-1.html

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    3. Preferred Series “J” Stock Series

  3. Lehman Brothers Class Action Lawsuit Filed

    Dec 17, 2015 | Voice Observer

    By Gregory Rogers

    A Lehman Brothers class action suit has been filed on behalf of investors who purchased Lehman Preferred Series “J” stock shares issued between February 5, 2008 and September 15, 2008.

    The lawsuit was filed against several Lehman executives, as well as firms that underwrote the offering, claiming that false and misleading statements were made about the financial strength of the investment bank.

    On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection, causing substantial losses for investors. The collapse began in 2007 when the mortgage market crisis unfolded, as Lehman was heavily invested in subprime mortgages...

    For full story: http://voiceobserver.com/2015/12/17/lehman-brothers-class-action-lawsuit-filed.html

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