Carmel - Conseco shares dropped 39 percent Wednesday, a day after the insurer said it held more than $100 million in securities of Lehman Brothers and two other troubled companies.
Shares of the Carmel-based company dropped $3 to $4.61 this afternoon under heavy volume of 7.3 million shares.
That was more than five times the average daily volume of 1.4 million shares Lehman filed for bankruptcy protection Monday after it was unable to find financing or fresh capital to shore up its balance sheet amid the continued downturn in the credit markets.
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