60 Mintutes Investigation Reveals Lehman Brothers Mispreprsentations About Finances

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According to an April 22, 2012 CBS News 60 Minutes investigation, Lehman Brothers, the investment banking firm that filed for bankruptcy on September 15, 2008, creating a global financial crisis and billons in investor losses, misrepresented its financial health leading up to the bankruptcy. “They’d fudged the numbers,” Anton Vakulas, the attorney appointed by the federal bankruptcy court to investigate Lehman Brothers’ collapse told 60 Minutes’ Steve Kroft. “They would move what turned out to be approximately $50 billion of assets from the United States to the United Kingdom just before they printed their financial statements.” Vakulas claims there is sufficient evidence to prosecute officials at Lehman. He believe the firm was intentionally misrepresenting their financial health to stay off bankruptcy. The entire 60 Minutes Segment may be viewed by clicking here. The attorneys at Colling Gilbert Wright & Carter are currently investigating and filing claims for the recovery of losses related to Lehman Brothers and numerous financial products and securities backed by the now defunct investment banking giant. If you have lost money due to Lehman Brother’s failure, please contact our office for a free case evaluation. Thank you.