Reported 3 days ago
Jefferies CEO Rich Handler stated that the bank was defrauded by the bankrupt auto parts maker First Brands Group during an investor day event. The company's collapse has raised concerns in the financial markets, with multiple firms alleging fraud. Despite the challenges, Handler emphasized that the overall environment remains positive, although Jefferies' stock was impacted by credit market fears associated with First Brands' liabilities, which exceed $10 billion.
Source: YAHOO