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Article: Lehman Investigation To Cover Commercial Real Estate Investing.
- Article from:
- The New York Observer (New York, NY)
- Article date:
- October 7, 2008
CopyrightCOPYRIGHT 2008 The New York Observer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The investigations of at least three U.S. Attorneys into whether Lehman Brothers misled investors before its fall could include parsing the former investment bank's vast commercial real estate investing operation. From the Wall Street Journal this morning:
The U.S. attorney's office for New York's Southern District, in Manhattan, is investigating whether Lehman valued its assets at artificially high levels, say two people familiar with the matter. That office has issued subpoenas to individuals that focus on what the firm told investors and other parties about its valuations for approximately $32.6 billion in commercial-real-estate holdings, according to a person ...