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This company is bankrupt, thus the "Q" at the end of it. I don't know much about "Q" stocks. I have heard that you can't sell them very easy. Anyone have any info on this?
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You are so correct Dagny, when there is "Q" at the end of a symbol, it means that company is in bankruptcy. Yes ofcourse Lehman Brothers Holdings Inc is undergoing bankruptcy as it went under late last year or so. This is one of the companies that "UNCLE SAM" did not bail out, although he bailed out AIG. The below is the latest news or press release on "LEHMQ". I don't know if it will help some....
Lehman Brothers Holdings Inc. Selects Numerix as Independent Trade Valuation Provider of 1 Million Outstanding Derivatives ContractsFont size: A | A | A9:15 AM ET 9/14/09 | BusinessWire Numerix announced today that it was selected by Lehman Brothers Holdings Inc. (LBHI) to provide independent real time valuations in the largest, most comprehensive derivatives valuation project of its kind, to date. The signing of Numerix is a critical step in unwinding LBHI's derivatives book and the ultimate reconciliation of outstanding creditor claims.
"Lehman performed an extensive search to identify a partner that could provide the analytics and technology capable to value the depth and breadth of derivatives products that were transacted in the Lehman derivatives portfolios," said Daniel Ehrmann, Managing Director of Alvarez & Marsal and co-head of LBHI's Derivatives Asset Team. "It became clear that Numerix was best positioned not only to provide LBHI with the valuations we need to resolve derivatives claims, but also to flex the market inputs and transaction terms to ensure that those valuations are reasonable."
LBHI selected Numerix to accelerate the resolution of intercompany accounts and systems and resolve derivative claims. The Numerix team of on-site financial engineers sit side-by-side with LBHI traders and risk managers and provide ad hoc, real-time valuation services along with software support and project management. Numerix is actively aggregating existing trade information from all of LBHI's legacy systems onto a single platform -- Numerix Portfolio -- and providing independent valuations on the entire LBHI book. The selection of Numerix was approved by the U.S. Bankruptcy Court, Southern District of New York (Manhattan) in April of 2009.
"We are honored to be working on the most unique and unquestionably the largest valuation deal in history," said Steven R. O'Hanlon, President and COO of Numerix. "Numerix brings the best capabilities and focus to providing LBHI with a single platform and the analytics necessary for the ultimate resolution of its intercompany accounts and the integration of existing legacy systems. We are delighted to be partnering with the derivatives team on this important and exciting mandate."
About Numerix
Numerix is the leading independent service provider of award winning cross-asset analytics for structuring, pre-trade price discovery, trade capture, valuation and risk analysis of derivatives and structured products. Numerix' robust valuation technology is uniquely capable of generating and archiving self-contained Security Valuation Packages which capture all inputs into the valuation process. This functionality enables every mark to be defensible, consistent, transparent and auditable, with market data, assumptions on model setup including calibration, static data and trade definition inputs to the valuation.
Since its inception in 1996, more than 375 financial institutions and 45 strategic partners across 25 countries rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, London, Tokyo, Hong Kong, Singapore and Dubai, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information, please visit www.numerix.com.
SOURCE: Numerix
View dataNumerix James Jockle, +1-646-898-1263 Senior VP Marketing jjockle*numerix.com or Todd Swearingen, +1-646-898-1294 Director Public Relations tswearin*numerix.com Or LBHI: Kimberly Macleod, +1-212-526-2380 kmacleod*lehman.com
Numerix James Jockle, +1-646-898-1263 Senior VP Marketing jjockle*numerix.com or Todd Swearingen, +1-646-898-1294 Director Public Relations tswearin*numerix.com Or LBHI: Kimberly Macleod, +1-212-526-2380 kmacleod*lehman.com
Posts: 602 | From: Minneapolis | Registered: Jul 2009
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