Class action filed on Lehman principal protected notes

Lehman issued the notes for which it and UBS were sellers and underwriters, and the allegation is that Lehman promised investors a complete return of principal even while the company knew its own financial situation was precarious. Furthermore, it is alleged that Lehman was maintaining inflated commercial and residential mortgage and real estate assets in addition to large amounts of leverage, and failed to take steps to lower its exposure to the weakening credit and mortgage markets or explain

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