Just because we think that Lehman’s executives probably shouldn’t face criminal prosecution, doesn’t mean we think prosecutors will take a similar view.
At the very least, officials from the Public Company Accounting Oversight Board and the SEC are definitely going to b digging into the allegations from former Federal prosecutor Anton Valukas that former CEO Richard Fuld was “at least grossly negligent in causing Lehman Brothers to file misleading periodic reports,” that several other executives breached their duties to shareholders, and that the firm’s auditors fell down on the job.
This morning Henry Blodget and John Carney went on Yahoo’s Tech Ticker to discuss possible legal implications with Aaron Task.
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