Sep 14, 2008
Lehman Brothers to File for Bankruptcy
via After Frantic Day, Wall St. Banks Falter (NYTimes)
Lehman Brothers Holdings Inc., once the fourth-largest U.S. investment bank, said it intends to file for bankruptcy after Barclays Plc and Bank of America Corp. abandoned talks to buy the crippled firm.
Lehman, one the biggest underwriter of mortgage-backed securities, plans to file a Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of New York, the firm in a statement today. The filing will be by the holding company and won’t include any of its subsidiaries, Lehman said.
Lehman Brothers to File for Bankruptcy After Suitors Drop Out (Bloomberg)
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