Lehman Bros. Whistleblower’s Suit Sinks in First Circuit

(CN) – A Lehman Brothers employee who claims she was fired for whistleblower violations after she reported securities violations missed her filing deadline and couldn’t bring her lawsuit in federal court, a First Circuit panel held.

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Fannie Mae Shareholders Lose Another Fight Over Post-Bailout Mortgage Profits

A federal judge in Delaware dismissed a shareholder action challenging the Federal Housing Finance Agency’s authority to divert Fannie Mae and Freddie Mac’s future profits to the U.S. Treasury as a condition of the mortgage giants’ $188 billion bailout during the 2008 financial crisis.

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Former HSBC Currency Honcho Can’t Block Extradition to US

A former head of currency trading at HSBC is facing extradition from London to the United States, where federal prosecutors have charged him with fraud for alleged front-running trades executed in advance of a client’s multibillion-dollar currency conversion.

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Glasscock Invokes Tennyson in Dismissing Shareholder Action

(CN) – Likening himself to the Lady of Shalott character confined to a castle tower in an 1830s poem, Delaware Vice Chancellor Samuel Glasscock dismissed a shareholder class action over aerospace company Kreisler Manufacturing’s merger, notwithstanding his constrained view of the facts around the deal. Glasscock found plaintiff Alan Kahn had failed to show that the company’s directors acted in bad faith when negotiating the company’s merger with private equity group Arlington Capital Partners.

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