Update In The Shareholder Class Action Lawsuit On Behalf Of Investors in Lehman Brothers Series J

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 19, 2008 -- There is a deadline coming up in the shareholder class action lawsuit on behalf of investors in Lehman Brothers Holdings Inc. preferred Series J stock against certain officers and directors of Lehman Brothers and certain underwriters. The deadline will expire on November 21, 2008.

If you purchased or otherwise acquired Preferred Series "J” stock of Lehman Brothers Holdings Inc. (OTC: LEHJQ or LEHMQ) from the date of its public offering on February 5, 2008 , you have certain options and there are strict and short deadlines running (November 21st, 2008). You should immediately contact the Shareholders Foundation, Inc.!

Email: Mail@ShareholdersFoundation.com

or Call us TODAY!

Phone: +1-(858)-779-1554

On Wednesday, September 24, 2008, a shareholder has filed a class action lawsuit in the United States District Court, Southern District of New York, on behalf of all persons who purchased the Preferred Series “J” stock of Lehman Brothers Holdings Inc. (OTC: LEHJQ or LEHMQ) from the date of the its public offering on February 5, 2008, and all purchasers traceable thereto against certain officers and directors of Lehman and certain Underwriters of the Offering. The lawsuit was filed against certain officers and directors of Lehman Brothers Holding and certain Underwriters including Bank of America Securities LLC (NYSE:BAC), Citigroup Global Markets Inc. (NYSE:C), Merrill Lynch, Pierce, Fenner & Smith Inc. (NYSE:MER), Morgan Stanley & Co. Inc. (NYSE:MS), UBS Securities LLC (NYSE:UBS), and Wachovia Capital Markets, LLC (NYSE:WB). According to a press release by a law firm the complaint asserts that Lehman Brothers Holding’s prospectus contained both material misstatements and omissions, which Plaintiff and the Class relied upon to their detriment. The representations made in its prospectus were materially false and misleading because at the time of the Offering, Lehman was already suffering from several adverse factors that were not revealed and/or adequately addressed in the document including the failure to set aside adequate allowances to cover the its ever increasing portfolio of underperforming sup-prime related products and to adequately write-down commercial and residential mortgage and real estate assets. According to the Lawsuit these factors were already causing a material adverse affect on Lehman Brothers Holding’s business and directly led to Lehman’s September 15th, 2008 announcement that it was seeking protection under the Federal Bankruptcy Code. The plaintiff alleges that as a result of the false and misleading statements the market price of Lehman Preferred J was artificially inflated during the Class Period. The shareholder alleges that would he and the other members of the Class known the truth, they would not have purchased said securities, or would not have purchased them at the inflated prices that were paid.

for more information go to www.ShareholdersFoundation.com

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