Suing Lehman Underwriters

Thanks to the Investment Fraud Lawyer Blog for pointing out that at least two investors have sued the underwriters of Lehman Bros subprime-backed securities. See: City of South San Francisco et al v. Citigroup Global Markets Inc., ND Cal., 3:09-CV-00501 and American National Insurance Company v. Fuld et al, SD Tex., 3:09CV00020.

The 100-plus-page American National complaint contains a very through discussion of Lehman's mistakes and distortions as well as an overview of general sub-prime misfeasance.