Law

JPMorgan, Citigroup Helped Cause Lehman Illiquidity, Examiner Report Says JPMorgan Chase & Co. and Citigroup Inc. helped cause the illiquidity that led to the collapse of Lehman Brothers Holding Inc., the bankrupt bank’s examiner said today in a report filed in Manhattan federal court.

Lehman Examiner Redacted Report on Collapse Can Be Made Public Judge Says The former federal prosecutor who probed Lehman Brothers Holdings Inc.’s $639 billion bankruptcy won permission to publish his report on how the bank tumbled to the biggest failure in U.S. history.

Ex-KB Home CEO Karatz Stole and Lied, Prosecutor Says at Backdating Trial Bruce Karatz, the former chief executive officer of KB Home, stole from investors by backdating stock options he received and lied about it to the homebuilder’s lawyers, a prosecutor said at the start of Karatz’s trial.

Blagojevich Asks Court to Postpone Corruption Trial to Prepare Defense Former Illinois Governor Rod Blagojevich asked a U.S. court to postpone the start of his scheduled June 3 trial on corruption charges, saying he needs more time to prepare a defense.

Pledge of Allegiance in Schools Doesn't Violate Constitution, Court Rules Reciting the Pledge of Allegiance with its reference to God in public schools doesn’t violate the U.S. Constitution’s separation of church and state, a federal appeals court ruled.

Bloomberg Law