Sonora, CA — Tuolumne County has filed a lawsuit against Lehman Brothers and the company’s auditors seeking to recover an investment of over $2 million that was lost when the firm collapsed.
County Counsel Gregory Oliver has issued a statement saying, “The factual circumstances leading up to Lehman’s bankruptcy filing as set forth in the complaint, reveal a pattern of unparalled misconduct by obscenely over compensated individuals. We intend to aggressively pursue full recovery of our losses on behalf of the taxpayers of Tuolumne County.”
Tuolumne County will seek punitive damages as a result of the firm’s alleged misconduct.
This post was last modified on 02/24/2009 7:00 pm