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.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
