Lehman Could Escape with Just a Public Rebuke
June 7th, 2011Via: New Zealand Herald / Bloomberg:
United States Securities and Exchange Commission investigators may issue a public rebuke of Lehman Brothers Holdings and its former executives instead of suing them for actions that led to the firm’s 2008 failure, say three people with knowledge of the matter.
SEC enforcement lawyers, who have struggled for more than two years to find definitive evidence that the company and its leaders violated securities laws, are concerned that a legal attack on Lehman’s accounting practices would likely fail, the people said, speaking anonymously.
Instead, the enforcement staff may recommend that the agency take the rare step of publishing a so-called report of investigation, also known as a 21(a) report.
