Staff
The Financial Industry Regulatory Authority (FINRA) has denied Lehman Brothers Inc.’s attempt to recover almost $500,000 from a former employee it had once offered as a loan.
This case, reported on Forbes.com, is one of many in which the firm sought to recover funds it extended via promissory notes before it went bankrupt.
Read: JPMorgan settles $20 million Lehman case
In its heyday, the fallen Wall Street giant had loaned 113 of its employees about $700,000 each, or about $80 million in total. Lehman Brothers is now trying to recoup this amount, but so far has had little success.