Mary Schapiro

SEC Unlikely to File Charges in Lehman Case: Memo

The staff of the U.

S. Securities and Exchange Commission has concluded its investigation into Lehman Brothers Holdings and will not likely recommend charges, according to the excerpt of a memo sent to Reuters.The excerpt, which was not dated, was sent along with an anonymous letter to Congress alleging that SEC Chairman Mary Schapiro made inaccurate statements about the agency's Lehman probe during a hearing last month.Schapiro told a House Financial Services panel on April 25 that Lehman "remains under investigation" and "is still under review."The copy of the internal memo sent to Reuters states that, "The staff has concluded its investigation and determined that charges will likely not be recommended."It did not give an indication of when the staff would give its final recommendation to the SEC's commissioners.John Nester, an SEC spokesman, would neither confirm nor deny the authenticity of the memo, but noted that Schapiro was correct when she told Congress that the Lehman matter i...

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