LOS ANGELES, June 18, 2008 (PRIME NEWSWIRE) -- Liner Yankelevitz Sunshine & Regenstreif LLP ("LYS&R") has commenced an investigation relating to Lehman Brothers ("Lehman" or the "Company") and potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation concerns investments in Lehman's stock in the Lehman Brothers Savings Plan (the "Plan").
LYS&R is analyzing whether Lehman and the Plan's fiduciaries breached their fiduciary duties of loyalty and prudence to the Plan's participants. A breach may have occurred if the fiduciaries failed to prudently manage the Plan's assets, by among other things, offering Lehman stock as a Plan investment option, requiring participants to invest in the stock, and/or investing and holding Company contributions in the stock at a time when the stock was not a suitable and appropriate investment option. A breach also may have occurred if the fiduciaries withheld or concealed material information from the Plan's participants with respect to the Company's business, financial results, and operations, thereby encouraging participants and beneficiaries to continue to make and maintain substantial investments of Company stock in the Plan.
If you are a member of the Lehman Brothers Savings Plan and would like to discuss this matter or provide information relevant to our investigation, you may contact any member of our team toll free at (866) 620-6722, or via e-mail at classaction@linerlaw.com.
LYS&R is one of America's leading law firms handling ERISA retirement plan litigation. Our attorneys helped pioneer this field in the Rite-Aid and McKesson ERISA breach of fiduciary duty cases, among the first large-scale ERISA 401(k) cases filed. Visit our website at www.californiaclassaction.com.