CASE Advisory on Lehman Brother

In view of the Lehman Brother's collapse, consumers seeking redress are advised to proceed to
the respective Financial Institutions (FIs) or the Financial Industry Dispute Resolution Centre
(FIDReC) as FIDReC is the more appropriate channel to handle investment disputes. Should
investors require assistance on this issue; they may come to CASE to seek for advice. CASE would
provide support for investors seeking advice. Some investors had sought our assistance and we
have written to the Banks on their claims. Some investors wanted us to facilitate a class suit against
the banks. This is a possibility provided that a class of the same claim could be formed and that
investors are prepared to share the costs of such an action. At the moment we do advise
consumers to go for the low cost dispute resolution mechanism put in place as a result of CASE
lobbying i.e Fidrec. The decision of FIDReC is binding on the FIs but not on the investors. If the
investor is not comfortable with the decision of FIDReC, he could seek alternative avenue to
resolve his dispute including suing the FIs in courts.