SEC Reported Not Charging Lehman; Schapiro Statement Disputed

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 Chairwoman 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.

SEC spokesman John Nester would neither confirm nor deny the memo, but said Schapiro was correct at the time.