All Posts Tagged With: "capital need"

Lehman Brothers Raises Capital After $2.8 Billion Quarterly Loss

Lehman Brothers Holdings Inc. (LEH) was forced to raise fresh capital yesterday (Monday), evidence that the subprime-fueled credit crisis is still far from over.

“I am very disappointed in this quarter’s results,” Chairman and Chief Executive Officer Richard S. Fuld, Jr. said in a company statement released yesterday. “Notwithstanding the solid underlying performance of our client franchise, we had our first-ever quarterly loss as a public company.”

The fourth-largest U.S. investment bank announced it would raise $6 billion to offset an expected $2.8 billion loss in its fiscal second quarter. Lehman said it expects a loss of $5.14 per share in the period…

10Jun2008 | Money Morning | Comments Off | Continued

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