Lehman Bros sells off shares

LOSSES & LAWSUITS

NEW YORK - US investment bank Lehman Brothers is selling $3 billion of its shares to raise capital to boost its balance sheet. The sale comes after speculation that the bank is facing similar problems to Bear Stearns, which nearly collapsed as a result of its debts last month. Lehman Bros joins a growing group of investment banks, including Merrill Lynch, Citi and Morgan Stanley, that have all had to raise money from investors to offset their subprime losses.

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