2nd group of investors to sue
Saturday, February 28th, 2009
A SECOND group of Lehman Minibond investors has announced plans to take the distributors and trustee of the failed product to court.
The investors – they call themselves the Minibond Investors Action Group or MIAG – appears to be larger than a 250-strong group that threatened legal action last week.
It also appears to have a more concrete legal strategy.
The organisers hope to get about 1,000 investors to commit between $2,000 to $3,000 each for a $2.5 million warchest that will fund court action, possibly in May, against the various Minibond distributors and and the products’ trustee, HSBC Trustee.
