Lehman Estate Sues JP Morgan


The Bankruptcy estate for Lehman Brothers sued JP Morgan Chase today for pocketing billions of dollars in the days before Lehman filed for bankruptcy.The suit says that Jamie Dimon and other JP Morgan execs took advantage of Lehman’s fragile state and coerced the bank into handing over $8.6 billion in collateral, which, the suit says, contributed to Lehman’s collapse. The estate is hoping to recover $5 billion. [WSJ]