Lehman Brothers Holdings Inc. · New York, NY United States ·(Pink Sheets: LEHMQ)

In what could be called the collapse heard 'round the world, venerable investment bank Lehman Brothers declared bankruptcy in September 2008, ending a reign of some 160 years in financial services. One of the top bulge-bracket firms and perennially among the industry leaders in M&A advice, debt and equity underwriting, and global finance suffered a knockout punch and reported nearly $7 billion in losses after becoming embroiled in the global credit crisis of 2007 and 2008. After acquisition talks with foreign investors fell through, Lehman attempted to restructure itself, including selling off operations for cash. The plan was too little too late, though, and Lehman filed for Chapter 11 bankruptcy protection. To read the full description, subscribe now.