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Ticker Summary (LEH)
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LEH 0.00 0.00%
Lehman Brothers Holdings dropped 45 percent today bringing down the entire market. Lehman had been in negotiations with Korea Development Bank about obtaining a large amount of capital as well as selling off its devalued mortgage assets; however, the talks went south sending the company's stock down 45 percent. Investors are concerned with the lack of a deal. The company now plans to its third-quarter results and "key strategic initiatives" tomorrow, a week earlier than scheduled. The company also reiterated that it is still in talks with other potential bidders.
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