The Washington State Investment Board (WSIB) has filed a lawsuit against Lehman Brothers in an attempt to recoup more than $100 million in investment losses, the plan announced this week.

The WSIB oversees a roughly $49 billion portfolio.

The lawsuit includes allegations that the firm did not disclose negative returns on troubled mortgages or the true value of the mortgage-related assets. The defendants named in the suit are former officials at Lehman, its outside auditors and the underwriters for the assets.

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