Dozens of employees left with worthless unvested stocks when Lehman Brothers went bankrupt in 2008 lost their federal appeal in the Second Circuit this week.
May 05, 2017 at 06:02 PM
1 minute read
Dozens of employees left with worthless unvested stocks when Lehman Brothers went bankrupt in 2008 have lost their federal appeal in the U.S. Court of Appeals for the Second Circuit.
The ruling by Judges Dennis Jacobs, Robert Sack and Susan Carney handed Lehman’s creditors a victory and exposes employees in sectors that rely on stock-heavy compensation packages to greater insecurity in the event their company goes bankrupt.
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