Lehman Forced To Close Under Weight of Penalty (Not!)

In what is sure to be a crushing blow to the investment bank’s financial well-being, Lehman Brothers has been fined a whopping $400,000 by the NYSE after an error in its reporting of short interest in a particular stock led to a wider probe that turned up beaucoup d’erreurs. “The firm’s inattentiveness to the size and frequency of these errors only exacerbated the recurring failures in reporting and supervision,” said Susan Merrill, NYSE’s chief of enforcement. Of course, Lehman has admitted no wrongdoing.
Lehman Fined $400,000 for Inaccurate Reporting [Crain’s]

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