Stocks and Mutual Funds » Lehman Fails: Fed and Treasury Look On

Lehman Fails: Fed and Treasury Look On

158-year old brokerage Lehman Brothers Filed for Chapter 11 bankruptcy protection Monday, the largest such filing in U.S. history.

With som $600 billion in outstanding debt, Lehman is unable to meet its obligations, but is in talks to sell off its profitable assets.

Shares plummeted to under $0.20 per share early Monday.

As of June 30, 2008, Legg Mason Partners Aggressive Growth Fund (SHRAX) was the largest mutual fund holder of Lehman stock.

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