Lehman seeks $500 million from Barclays in bonus dispute
Lehman Brothers Holdings Inc. is claiming $500 million from Barclays Plc for allegedly failing to pay all of the bonuses the U.K. bank agreed to when it bought the defunct investment firm’s North American business. Lehman wrote a letter to U.S. Bankruptcy Judge James Peck saying an opinion he wrote in February showed that Barclays “breached its bonus payment obligations.” The letter was filed in U.S. Bankruptcy Court in Manhattan on April 29. Barclays has said it paid the full $2 billion it promised, including non-bonus compensation. Peck issued the February opinion in a lawsuit that Lehman lost seeking $11 billion from Barclays over the deal.