Leaman brother Research Paper Example | Topics and Well Written Essays - 500 words

Leaman brother - Research report card Exampleublish its financial statement so when the financial statements were released to the public, the financial statements may depict that the trust had funds and was paying its debtors (Hallman 1). Once a period of seven or less days had passed and the account statements were published, the bank repurchased sold assets.Anton Valukas was assigned the duty of look into the matter of Lehman Brother and unearth the reasons for its fall down. Valukas states that the Repo 105 transaction was first reported by Mathew Lee who was an employee of Lehman. Lee started by reporting the transactions to the management of Lehman and by and by reported the findings to the organizations auditing firm, Ernst & Young and no actions were taken (Hallman 1).Once the firm could no seven-day indulge in Repo 105, it had to start depicting that it was highly leveraged and did not gather in money to pay glowering its debt and ultimately the bank filed for bankrup tcy. Due to this several stakeholders had to experience material as well as steamy losses. The main stakeholders who were negatively impacted included the companies that had lent money to the bank, the shareholders of the bank and its employees. When the company went bankrupt in that respect were more than 25000 employees working for them and a major percentage of them had to experience unemployment and social and psychological associated with it (Corelli 326). Furthermore, the shareholders had to lose their money since the company was not performing well and it has been recorded that due to the fall down of the company somewhat $10 trillion funds were injected out of the equity markets (Corelli 326).It is believed but not yet proven that the certified public accountant firm called Ernst & Young (E&Y) was involved in the financial fraud conducted by Lehman Brother. They are said to have been involved in the cover-up of this fraud. Due to these allegations against the CPA firm sev eral civil lawsuits were filed against the firm after(prenominal) the collapse of Lehman Brothers. These lawsuits