US SEC may rebuke Lehman rather than sue

NEW YORK : The US Securities and Exchange Commission may issue a public rebuke of Lehman Brothers Holdings Inc and forme

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 US history in September 2008.

Copyright Reuters, 2011

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