Lehman to Settle Cum-Ex Probe for $62 Million, Paper Reports (2)

Lehman Brothers Holdings Inc.’s European unit is in talks with German prosecutors to pay 50 million euros ($61.5 million) to settle a probe into its participation in controversial Cum-Ex transactions, Handelsblatt reported, citing people familiar with the negotiations.

The lender, whose bankruptcy filing amid the financial crisis in September 2008 brought the global financial system to the verge of collapse, was among the shortsellers in the deals, according to findings by Cologne prosecutors investigating the bank and some of its former employees.

Cologne prosecutors declined to comment.

Lehman Brothers International Europe and its administrators have been working “constructively” with ...