Reuters- Lehman Brothers has liquidated three floundering investment funds that lost value and ended up taking $1 billion (500 million pounds) of assets from the funds onto its balance sheet, according to a filing with the U.S. Securities and Exchange Commission.
Lehman also said it bought another $800 million of assets from other funds it formed, according to the filing.
Taking assets onto its balance sheet resulted in about $300 million of write-downs in the first quarter, a person familiar with the matter said.
