Lehman Brothers Bankruptcy Filing : Leeds Morelli & Brown, Attorneys at Law: Blog

Lehman’s Brothers Holdings Inc. recently announced that it has filed a petition under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York.  With its New York City office employing nearly half of the company’s 25,000 employees, thousands of people in our area, including Nassau and Suffolk counties, Manhattan, Queens, Brooklyn, Bronx, and Staten Island, are faced with the possibility of unemployment.  The images on the news show countless Lehman Brothers employees leaving its New York City office with a box filled with the contents of their desk and a look of despair.  This is just the latest chapter in our Nation’s economic crisis.

 Financial experts will tell you that a large employee population is one of the toughest issues for a company to manage through difficult times. Read the rest of this entry »