Bloomberg, 10 May 2011A Singapore lawsuit accusing Lehman Brothers Holdings Inc. (LEHMQ), Minibond Ltd. and Royal Bank of Scotland Group Plc (RBS) of being reckless and negligent in selling Lehman structured notes has been dropped.
The investors have withdrawn their claims against RBS and are barred from filing similar complaints against the bank, Ross Crawford, RBS head of legal for Asia, said in an e-mailed statement today. The investors were also ordered to pay Lehman’s legal costs, the defunct securities firm’s lawyer Danny Ong of Rajah & Tann said. Full story
