More On

Lehman giving up on bid for Barclays’ $11 billion

Beleaguered investment bank says it will drop its appeal

Just when things seemingly couldn’t be worse for the now-defunct Lehman Brothers Holdings Inc., they actually got worse.

Already embroiled in fending off litigation from the company’s investors and affiliates, Lehman yesterday announced that it has dropped its bid to collect $11 billion from Barclay’s Plc. The two companies had been squabbling for years in regard to a dispute over the sale of Lehman operations.

Join the Conversation

Advertisement. Closing in 15 seconds.