Monday, June 9, 2008

Lehman loses billions

They say they lost a "net" of $2.8 billion, and that shortseller, David Einhorn was cherry picking:

"Mr. Einhorn cherry-picks certain specific items from our quarterly filing and takes them out of context … which suits him because of his short position in our stock."

According to Einhorn, the cherries are now watermelons.

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