|  | | 2012 News and Press Releases | | |
HEADLINE NEWS:
SEC Staff Said To End Lehman Probe Without Recommending Action
Joshua Gallu
Bloomberg. May 24, 2012
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EXCERPT: U.S. Securities and Exchange Commission investigators have concluded their probe of possible financial fraud at Lehman Brothers Holdings Inc. and determined that they will probably not recommend any enforcement action against the firm or its former executives, according to an excerpt of an internal agency memo. The agency has been grappling with the case for more than three years amid questions from lawmakers and investors as to whether Lehman misrepresented its financial health before filing the biggest bankruptcy in U.S. history in September 2008. Under a heading reading "Activity in Last Four Weeks,'' the undated document reads, "The staff has concluded its investigation and determined that charges will likely not be recommended." SEC officials didn't dispute the authenticity of the memo or its contents. |
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