{"id":8922,"date":"2008-10-22T00:00:00","date_gmt":"2008-10-22T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"lehman-failure-dogs-evergreen-solar","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/lehman-failure-dogs-evergreen-solar.html","title":{"rendered":"Lehman failure dogs Evergreen Solar"},"content":{"rendered":"<p>Boston Globe &#8211; Evergreen Solar Inc. got a shock when Lehman Brothers Holdings Inc. went bankrupt last month: The solar panel maker lost control of almost 31 million shares of its stock.<\/p>\n<div>\n<div class=\"embed\">\n<div class=\"relatedBox\">How that happened is the subject of a lawsuit the Marlborough company filed yesterday against Lehman and the defunct investment bank&#8217;s new owner, Barclays Capital. It also sheds light on the kinds of complex deals that had become common on Wall Street before the market meltdown.<\/div>\n<\/p><\/div>\n<\/div>\n<p>Evergreen, when it needed to raise money in July to build a plant at the old Fort Devens site, arranged a $375 million bond deal with Lehman. But there was a catch. As part of the transaction, Evergreen had to lend Lehman 30.9 million shares of its own stock &#8211; so that hedge funds could borrow them and short them, or bet the stock would fall. That&#8217;s right: Evergreen had to provide its own shares for hedge funds to short.<\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.boston.com\/business\/markets\/articles\/2008\/10\/22\/lehman_failure_dogs_evergreen_solar\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston Globe &#8211; Evergreen Solar Inc. got a shock when Lehman Brothers Holdings Inc. went bankrupt last month: The solar panel maker lost control of almost 31 million shares of its stock. How that happened is the subject of a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2984,3136,1320,893,147,96,1517,421,754,2811,1516,353,47],"class_list":["post-8922","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-felonies","tag-flexibility","tag-globe-russia","tag-ipo","tag-journalism","tag-lehman-brothers-holdings","tag-lehman-brothers-holdings-inc","tag-nutmeg","tag-personal-reasons","tag-quarter-point","tag-sailfish-capital-partners-llc","tag-stocks","tag-third-party"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8922"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8922\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}