Lehman Brothers Holdings Inc. was ranked as the fourth largest bank in the US before it declared bankruptcy in 2008. The company was dealing in investment banking, equity and fixed income-income sales and trading, research, investment management, private equity, and private banking. A significant number of clients withdrew their accounts from Lehman Brothers and the share price of the stocks fell at an exponential rate. Consequently, on September 15, 2008 the company filed for bankruptcy under Chapter 11. Lehman Brothers played a major role in the recession of the late 2000’s which drastically affected the entire country. The company ...
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