April 19, 2012 - The court issued a judgment approving the settlement with the underwriter defendants.

January 8, 2012 - The court issued a judgment approving the settlement with the director and officer defendants.

December 15, 2011 - The court preliminarily approved both settlements.

December 12, 2011 - The lead plaintiffs and additional underwriter defendants filed a stipulation of settlement.

December 2, 2011 - The lead plaintiffs and certain of the settling underwriter defendants filed a stipulation of settlement.

October 14, 2011 - The lead plaintiffs and the director and officer defendants filed a stipulation of settlement.

July 27, 2011 - The court granted in part and denied in part the defendants' motions to dismiss.

June 4, 2010 - The defendants filed motions to dismiss.

April 23, 2010 - The lead plaintiffs filed a third amended complaint on behalf of investors who purchased various securities securities from Lehman Brothers Holdings Inc between June 12, 2007 and September 15, 2008. The lead plaintiffs allege that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between June 12, 2007 and September 15, 2008.

February 4, 2010 - Parties filed a stipulation of voluntary dismissal without prejudice against one defendant.

April 27, 2009 - The defendants filed motions to dismiss.

February 23, 2009 - The lead plaintiffs filed second amended complaint on behalf of investors who purchased various securities securities from Lehman Brothers Holdings Inc between February 13, 2007 and September 25, 2008. The lead plaintiffs allege that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between February 13, 2007 and September 25, 2008.

January 9, 2009 - The court ordered all cases to be filed into a multi-district case.

November 18, 2008 - Another investor filed a complaint on behalf of investors who purchased Lehman Brothers Holdings Inc Preferred J stock.

October 27, 2008 - The lead plaintiffs in the June 18, 2008 action filed an amended complaint on behalf of investors who purchased various securities offered by Lehman Brothers Holdings Inc between June 12, 2007 and September 15, 2008. The lead plaintiffs allege that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between June 12, 2007 and September 15, 2008.

September 24, 2008 - Another investor filed a complaint in the U.S. District Court for the Southern District of New York on behalf of investors who purchased Lehman Brothers Holdings Inc Preferred J stock between June 5, 2006 and September 15, 2008.

July 31, 2008 - The lead plaintiffs and lead counsel were appointed in the June 18, 2008 action.

July 10, 2008 - A plaintiff filed a notice of voluntary dismissal of the complaint filed April 29, 2008.

June 30, 2008 - Lead plaintiff motions were filed in the June 18, 2008 action.

June 18, 2008 - Another investor filed a complaint in the U.S. District Court for the Southern District of New York on behalf of investors who purchased Lehman Brothers Holdings Inc securities between September 13, 2006 and June 6, 2008.

April 29, 2008 - Another investor filed a complaint.

March 4, 2008 - The plaintiff filed a notice of voluntary dismissal of the complaint filed on February 22, 2008.

February 22, 2008 - An investor in various securities offered by Lehman Brothers Holdings Inc filed a lawsuit in the U.S. District Court for the U.S. District Court for the Northern District of Illinois against Lehman Brothers Holdings Inc over alleged violations of Federal Securities Laws.

According to the complaint, as a direct result of the market learning of Lehman Brothers Holdings Inc’s misrepresentations and omissions, the price of Lehman Brothers Holdings Inc (NYSE: LEH) shares declined and shareholders suffered a loss on their investments in Lehman Brothers. Between September 13, 2006 through July 30, 2007, Lehman Brothers Holdings Inc was an active participant and heavily invested in the mortgage-backed securities markets. By July 17, 2007, news of further deterioration in the mortgage-backed securities market and rumors concerning Lehman Brothers Holdings Inc’s mortgage-related losses reached a critical stage. That day, Bear Stearns, a competing investment bank, announced that its “Structured Enhanced Leverage Fund,” due to heavy losses in its mortgage-related investments, would be returning no money to its investors, and that a second failed mortgage securities-based hedge fund would be able to return only a small portion of its clients’ funds. This news sent shockwaves through the market, and led investors to suspect that Lehman Brothers Holdings Inc was also concealing mortgage related losses on its balance sheet.

On July 18, 2007, this speculation forced Lehman Brothers Holdings Inc to reassure the market: a Lehman Brothers Holdings Inc spokeswoman, Kerrie Cohen, said “[t]he rumors related to subprime [mortgage] exposure are unfounded.”

Despite Lehman Brothers Holdings Inc’s assurances, on July 30, 2007 an article published by Market Watch noted on that day that Standard & Poor’s Equity Group downgraded Lehman Brothers Holdings Inc, to hold from buy, “citing the brokerage’s exposure to leverage in its fixed-income business, widening credit spreads and slower mortgage origination and securitization volume for mortgages.” This news shocked the market, causing Lehman Brothers Holdings Inc’s share price to drop over the next four trading days, to close on August 3, 2007, at $55.78 per share, a 14.56 percent drop from its closing price before the news of the Standard & Poor’s downgrade.