Joseph M. Gregory's Lehman Brothers Holdings and 2008 Collapse
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
In 2008, Joseph M. Gregory owned 6,188,903 shares of Lehman Brothers stock as of January 31, 2008, representing 1.31% of the firm’s outstanding stock. Gregory had worked at Lehman Brothers for 34 years, having joined in 1974. Lehman Brothers filed for the largest bankruptcy in U.S. history on September 15, 2008, causing the stock to become nearly worthless.
From 247wallst.com
Why it matters
The event illustrates the severe financial risk associated with concentrated stock ownership in a major financial institution. Following the bankruptcy, the value of Gregory's shares was nearly eliminated, demonstrating the potential for massive capital destruction during a firm's collapse.
From 247wallst.com
Who's involved
- Joseph M. GregoryAmerican chief operating officer who held millions of shares in Lehman Brothers.
- Lehman BrothersDefunct American financial services firm that filed for bankruptcy in 2008.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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Joseph M. Gregory
American chief operating officer
Nothing else this week.
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Lehman Brothers
defunct American financial services firm