A Lehman spokesman said she would be replaced by Mark Grotevant, an analyst at the firm.

A Lehman spokesman disputed that, pointing out that cases settled for more than $5,000 go on public records anyway.

Bill Ahern, a Lehman spokesman, declined to comment on the offer.

A Lehman spokesman could not be reached for comment.

A Lehman spokesman declined to comment in detail on the court action.

A Lehman spokesman said the firm was not concerned by the amount still sitting on its books.

But construction space in that core area has grown too small and expensive, said Bill Ahearn, a Lehman spokesman.

That is about 95 basis points above the benchmark 30-year Treasury bond, a Lehman spokesman said.

But a Lehman spokesman said the firm had not sold any Michaels shares in May.

A Lehman spokesman would not comment on the matter.