Wednesday, June 4, 2008

Lehman buying back its shares -WSJ

Voltron says: Lehman is both buying and selling its own shares.  There is a word for that . . .  oh yeah: Manipulation!


SAN FRANCISCO, June 3 (Reuters) - Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research) began using its capital to buy back its shares in the wake of its falling stock, the Wall Street Journal reported on Tuesday, citing a person familiar with the matter.

It was unclear how much stock Lehman bought, the Journal said.

Lehman may also look to sell a stake to a group of investors and has held talks in recent days with at least one foreign entity (Voltron says: the word on the street  is South Korea), the Journal reported, citing a source.

Lehman's stock closed Tuesday's session down 9.5 percent, or $3.22, at $30.61 on the New York Stock Exchange.


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