ID :
27277
Wed, 10/29/2008 - 16:45
Auther :
Shortlink :
https://oananews.org//node/27277
The shortlink copeid
UAE INVESTORS EXPOSED TO LEHMAN BROTHERS LAUNCH WEBPAGE
DUBAI, Oct 29 (Bernama) -- A group of United Arab Emirates (UAE)-based
investors, with investments linked to failed American investment bank Lehman
Brothers, have launched the webpage www.victimsoflb.com in a concerted effort
to protect their rights and investments.
They are urging others whose investments have been exposed to Lehman
Brothers through local banks in the UAE to visit the site and join the group's
initiative.
In a statement, members of the group made up mostly of small investors,
claimed that they were not given enough information and updates by the banks
that had sold them the exposed investment products.
By consolidating their efforts and having a common action plan, they hoped
to have a more forceful platform to communicate with the concerned banks and
authorities, the statement said.
Lehman Brothers filed for Chapter 11 bankruptcy protection last month,
citing billions of dollars in losses from souring debt.
-- BERNAMA
investors, with investments linked to failed American investment bank Lehman
Brothers, have launched the webpage www.victimsoflb.com in a concerted effort
to protect their rights and investments.
They are urging others whose investments have been exposed to Lehman
Brothers through local banks in the UAE to visit the site and join the group's
initiative.
In a statement, members of the group made up mostly of small investors,
claimed that they were not given enough information and updates by the banks
that had sold them the exposed investment products.
By consolidating their efforts and having a common action plan, they hoped
to have a more forceful platform to communicate with the concerned banks and
authorities, the statement said.
Lehman Brothers filed for Chapter 11 bankruptcy protection last month,
citing billions of dollars in losses from souring debt.
-- BERNAMA
