Reported 2 days ago
Jefferies CEO Rich Handler stated that the bank was defrauded by First Brands Group, a bankrupt auto parts maker, during an investor day event. His comments follow ongoing fraud allegations against several financial firms and a U.S. Department of Justice investigation into First Brands. Despite this setback, Handler emphasized that the overall market conditions remain favorable, although the fallout from First Brands has affected Jefferies' stock and raised credit concerns across the market.
Source: YAHOO