A global financial services firm founded in 1850 by brothers Henry, Emanuel and Mayer Lehman, offering investment banking, equity and fixed-income sales and trading, research, investment management and private banking. Weakened by exposure to the subprime mortgage crisis, it filed for Chapter 11 bankruptcy on September 15, 2008 after an exodus of clients, a collapsing stock price and rating-agency downgrades, the largest bankruptcy filing in United States history at the time. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/
Facts
Company TypeGlobal financial services and investment bank (historical, dissolved after its 2008 bankruptcy) 2 Founded Year Headquarters745 Seventh Avenue, New York City, New York, U.S. 2 Company Type
Company Type (category) FAQs
Why did Lehman Brothers file for bankruptcy in 2008?
Lehman Brothers, a global financial services firm founded in 1850 by brothers Henry, Emanuel and Mayer Lehman, was weakened by its exposure to the subprime mortgage crisis. Facing an exodus of clients, a collapsing stock price and rating agency downgrades, it filed for Chapter 11 bankruptcy protection on September 15, 2008, the largest bankruptcy filing in United States history at the time.
Connections
Associated With
The firm whose September 2008 Chapter 11 filing this event names.
Operates In
Investment banking and financial services.
Additional Source Wikipedia, Lehman BrothersLead section
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Source Wikipedia, Lehman BrothersLead paragraph of the cited Wikipedia articletier 2Quote, Lead paragraph of the cited Wikipedia article
Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide.
Sources
1. Wikidata: Lehman Brothers
- Wikidata Q212900, class allow-list match (w-wdresolver-0926)
- Wikidata Q212900 P31=Q891723 (public) (w-bbfill-business4-0926 knownqid fetch)
View the Source2. Wikipedia, Lehman Brothers
Wikipedialead section
On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection following the exodus of most of its clients, drastic declines in its stock price, and the devaluation of assets by credit rating agencies.
- Related Corporate Events: Bankruptcy of Lehman Brothers
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