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.