CME Group, Goldman Sachs, Barclays and DRW Trading will not face lawsuits seeking to recover losses linked to the auction of Lehman Brothers’ futures book, The Wall Street Journal reports. Court-appointed examiner, Anton Valukas, has named the firms and the size of their bids in his nine-volume report outlining the downfall of Lehman.
The move to reveal the identities may prompt creditors to pursue lawsuits against CME or the firms that bought Lehman’s positions in a sale of more than $2 billion in commodity, interest rate and equity index contracts. Such claims are likely to be unsuccessful as CME and the futures’ buyers are protected by CME’s role as a self-regulator of its exchanges and safe harbor provisions of bankruptcy law.
Click here for additional coverage.
