Aaron R. Cahn Quoted Regarding Lehman Bankruptcy Ruling

Bankruptcy counsel Aaron R. Cahn was quoted in the December 29, 2011 Thomson Reuters News & Insight article “Lehman Bankruptcy Judge Denies Morgan Stanley Customer Status.” Mr. Cahn commented on the Bankruptcy Court’s ruling which dismissed Morgan Stanley’s claim against Lehman Bros. Inc. on account of its failure to qualify as a customer under the Securities Investor Protection Act. Mr. Cahn noted that case applied an old definition of the term "customer" explaining, “[T]he protections afforded by SIPA are, or at least were prior to Dodd-Frank, very narrowly circumscribed, and that the definition of ‘customer for purposes of that statute was much more limited than is understood in normal parlance.”

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