NEW YORK (Reuters) - A lawsuit seeking class action on behalf of shareholders was filed Thursday against Lehman Brothers Holdings Inc (nyse: LEH - news - people ), whose shares have plunged more than 60 percent this year as a result of its exposure to the sub-prime mortgage crisis.
The civil suit, filed in U.S. District Court in New York, argues the conduct of Lehman and four high-ranking officers caused the economic loss suffered by its shareholders.
It also accuses Lehman executives of making deliberately misleading statements and withholding material information in order to profit by selling company stock at artificially inflated prices. (Reuters)
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