Lehman, meanwhile, had sold more than $900 million worth of retail structured products in the U.S. this year through late September, ranking it among the top 10 issuers of the products, according to StructuredRetailProducts.com. Many of these offerings were designed to return investors' full principal at maturity. Now, small investors holding Lehman-issued structured products are waiting to see what they can recover through the bankruptcy proceedings, hiring their own lawyers to make claims against the brokers who sold them the products, or selling their holdings for pennies on the dollar through secondary markets, industry experts say. Firms representing Lehman in its bankruptcy didn't respond to requests for comment on the status of the products.
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