What Happened
Alleged Securities Violations Linked To First Brands Bankruptcy
A law firm is investigating Jefferies Financial Group over alleged securities violations linked to the bankruptcy of auto parts maker First Brands. The investigation focuses on whether Jefferies and its executives made false or misleading statements to investors. This follows reports that Jefferies’ asset management unit is owed about $715 million from companies tied to First Brands, which is under scrutiny by the U.S. Department of Justice. The investigation was first reported by GlobeNewsWire.