Lehman Brothers, the No. 4 U.S. securities firm, said it had liquidated three investment funds valued at $1 billion at the end of February. It took the funds assets onto its balance sheets, according to an SEC filing. Lehman blamed the liquidations on “market disruptions.” Deutsche Bank analysts forecast that Lehman could write down another $2 billion in the second quarter, adding that the firm’s “liquidity seems okay.” (Bloomberg)