NEW YORK |
(Reuters) - The Securities and Exchange Commission may issue a public rebuke of Lehman Brothers Holdings Inc and former executives rather than sue them for actions that led to the firm's 2008 bankruptcy, Bloomberg News reported on Friday, citing three people with direct knowledge of the matter.
The SEC's enforcement lawyers are worried that a legal attack on Lehman's accounting practices would fail, the people cited by Bloomberg said.
Instead, the enforcement staff may recommend that the agency publish a so-called report of investigation, also known as a 21(a) report. outlining allegations of misconduct without imposing penalties, Bloomberg said.
Lehman filed the biggest bankruptcy in U.S. history in September 2008.
Am SEC representative did not immediately respond to a request for comment.
(Reporting by Phil Wahba; Editing by Gary Hill)
No comments:
Post a Comment