Hedge fund loses $130 mln on shares held by Lehman

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Hedge fund loses $130 mln on shares held by Lehman

Wednesday, October 21, 2009 : Permalink

Reuters – Hedge fund Harbinger Capital Partners said on Tuesday it had lost more than a quarter of its stake in sugar maker Tate & Lyle as it has been unable to reclaim them from collapsed bank Lehman Brothers.

Harbinger said 17.7 million shares — worth 80 million pounds ($131.4 million) at current prices — will not be recovered and further shares held by Lehman may also be lost.

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Hedge fund loses $130 mln on shares held by Lehman

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