SOURCE: Dyers & Berens LLP

May 06, 2008 11:49 ET

Shareholder Lawsuit Filed on Behalf of Purchasers of Lehman Brothers Holdings Inc. Securities Between 9/13/06 and 7/30/07 (NYSE: LEH)

DENVER, CO--(Marketwire - May 6, 2008) - Dyer & Berens LLP (www.berenslaw.com) announced today that a proposed class-action lawsuit on behalf of purchasers of Lehman Brothers Holdings Inc. ("Lehman" or the "Company") (NYSE: LEH) securities between September 13, 2006 and July 30, 2007, inclusive (the "Class Period") was filed in the United States District Court for the Northern District of Illinois.

If you purchased Lehman securities during the Class Period, you may, no later than June 30, 2008, request that the Court appoint you as a lead plaintiff for the Class. A lead plaintiff is a class member that acts on behalf of other investors in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

For a free consultation regarding your rights and interests with respect to the pending lawsuit, you may contact Jeffrey A. Berens of Dyer & Berens LLP at (888) 300-3362 or (303) 861-1764, or via email at jeff@dyerberens.com.

In the complaint, the plaintiff alleges that Lehman and the other defendants failed to fully disclose: (i) the nature and extent of Lehman's exposure to losses incurred from trading in subprime mortgage backed derivatives; (ii) the nature and extent of its exposure to losses incurred from CDOs; (iii) the nature and extent of its exposure to losses incurred from mortgage backed security originations; (iv) that the Company had materially overvalued its positions in commercial and subprime mortgages and in securities tied to these mortgages; (v) that the Company had inadequate reserves for its mortgage and credit related exposure; (vi) that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles; and (vii) that the Company lacked adequate internal and financial controls.

While Dyer & Berens LLP has not filed a complaint against the defendants, it specializes in complex class action litigation on behalf of injured investors throughout the nation. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. Its attorneys have served as lead or liaison counsel in many securities fraud class actions, including: In re Qwest Comm'ns Int'l Sec. Litig.; Croker v. Carrier Access Corp.; UFCW Local 880-Retail Employers Joint Pension Fund v. Newmont Mining Corp.; Rasner v. FirstWorld Comm'ns, Inc.; In re ICG Comm'ns Sec. Litig.; Angres v. Smallworldwide, PLC; In re Ultimate Electronics, Inc. Sec. Litig.; Kerns v. SpectraLink Corp.; Queen Uno Ltd. v. Coeur d'Alene Mines Corp.; Toothman v. One-Stop Wireless of America; Gregg v. Sport-Haley, Inc.; and In re Tele-Communications, Inc. Sec. Litig.

Contact Information

  • Contact:

    Jeffrey A. Berens, Esq.
    Dyer & Berens LLP
    682 Grant Street
    Denver, CO 80203
    Tel: (888) 300-3362 or (303) 861-1764
    Fax: (303) 395-0393
    Email: Email Contact