Bloomberg reports that the U.S. Securities and Exchange Commission has ended its probe into possible financial fraud at Lehman Brothers, and will not recommend enforcement action against former executives of the defunct investment house.
From Bloomberg:
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.
