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Lehman shares open at lowest since March, then reverse losses

NEW YORK (Reuters) - Shares of Lehman Brothers opened at their lowest since March on Thursday but then erased losses as investors digested the news the investment bank has demoted its chief financial officer, Erin Callan, and named a new chief operating officer.

Lehman shares were down 0.6 percent at $23.60 after the first half hour of trading, having earlier fallen as much as 10 percent.

Reporting by Kristina Cooke; Editing by Theodore d’Afflisio

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