Barroway Topaz Kessler Meltzer & Check, LLP is serving as court-appointed co-lead counsel on behalf of a group of institutional investors, including Alameda County Employees' Retirement Association, Government of Guam Retirement Fund, Northern Ireland Local Government Officers' Superannuation Committee, City of Edinburgh Council as Administering Authority of the Lothian Pension Fund, Operating Engineers Local 3 Trust Fund, (the "Pension Fund Group"), in a securities class action captioned Operative Plasterers and Cement Masons International Association Local 262 Annuity Fund v. Lehman Brothers Holdings, Inc., No. 1:08-cv-05523 (LAK), pending in the Southern District of New York. The action arises from misstatements and omissions regarding Lehman's financial condition and its exposure to the residential and commercial real estate markets in the period leading to Lehman's unprecedented bankruptcy filing on September 14, 2008, marking the largest bankruptcy filing in U.S. history.

On February 23, 2009, the Pension Fund Group, and additional plaintiffs, including Police and Fire Retirement System of the City of Detroit, Brockton Contributory Retirement System, Teamsters Allied Benefit Funds, American European Insurance Company, and Inter-Local Pension Fund Graphics Communications Conference of the International Brotherhood of Teamsters, filed a Second Amended Consolidated Class Action Complaint for Violations of the Federal Securities Laws ("Complaint").  As defined in the Complaint, the action asserts claims on behalf of all persons and entities who purchased or acquired various securities of Lehman between February 13, 2007 and September 15, 2008. The Complaint asserts claims against several former Lehman officers (including Richard S. Fuld, Jr., the former Chief Executive Officer and Chairman of the Board), several members of Lehman's Board of Directors, and underwriters for various Lehman debt and equity offerings. The Bankruptcy Code prevents Lehman from being a named defendant in this action.  For more information on the status of the litigation, and to access to certain information and materials regarding the substantive allegations, including a copy of the Complaint, please visit the Lehman Securities Litigation Website at www.lehmansecuritieslitigation.com