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  • vigs2341 vigs2341 Jul 10, 2013 10:01 AM Flag


    So you are thinking they will get all 132 million? It sounds in the WSJ article you posted that 4Kids was partly at fault, as they knew about the ARS and sat on their hands basically. It sounds like Lehman took Foster to the cleaners and Foster was too dumb to see what was going on. Being dumb does not me you get all your money back. However, I hope you are right...:)

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    • Except that fooling a trained and experienced accountant gives pause. Any accountant knows that two things can't be known to them: collusion and unrecorded transactions. The WSJ article indicates both were present in LBI's dealing with 4Kids. How this turns out will be interesting

    • One more thing in response to your comment Vigs.

      Those ARS was so opaque that even security professional on wall street had no chance of deciphering them. What is the chance that a CFO whose specialty is in accounting rather than investing know any better? And we should be reminded that lehman was the custodian of the account so they (lehman) had direct control of what securities were bought.

      IMO that $10M cutoff for distinguishing small vs large investor was arbitrary (so is QIB btw). Institutions are not immune to ignorance. Especially when evidence suggests the custodian was deliberately deceitful.

    • No. I think they will get 45M +.

      See my post in other thread.

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