Lehman Bros. Moves Up Q2 Earnings Announcement To Thwart rumours Of Collapse

The New York Post: “Lehman Brothers is considering releasing its second-quarter earnings a week earlier, and tying that announcement to news about a plan to raise capital, as the embattled investment bank looks to quiet doubts about its future, The Post has learned.

Lehman had planned to announce its second-quarter earnings sometime during the week of June 16, but a barrage of negative sentiment from short-sellers, including hedge fund manager David Einhorn of Greenlight Capital, has forced the investment bank to mull putting out its financial results sooner.

According to a person familiar with the matter, the earnings release would be coupled with an announcement that the bank is bolstering its balance sheet by injecting cash raised through an offering of shares known as a ‘rights offering.'”

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