Lehman Brothers and its counsel at Jones Day have filed suit against Barclays, claiming the bank got an undeserved windfall of at least $5 billion when it purchased much of Lehman’s North American operations after Lehman went bankrupt last September.
The suit was expected. As we’ve reported before, Lehman and Jones Day asked a bankruptcy judge in September to modify the terms of the Barclays sale and alleged that a small number of executives on both sides conspired to give Barclays the so-called windfall.
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