Defendant Name:
Lehman Brothers, Inc.
Defendant Type:
Subsidiary of Public Company
Document Reference:
court_doc151_03-cv-02940
Document Details
Legal Case Name
SEC v. Lehman Brothers, Inc.
Document Name
Notice Regarding Defendants' Rule 60(b) Motion to Modify Addendum A of Global Research Settlement
Document Date
05-Dec-2025
Document Format
Civil Proceeding
Case Number
03-cv-02940
Federal District Court
New York, Southern District of New York
Allegation Type
Investment Advisers/Investment Companies
Document Summary
The SEC stated: "[T]he Securities and
Exchange Commission (SEC) consents to the relief sought by the motions and
agrees that the final judgments should be modified as reflected in the proposed
orders submitted by each respective Defendant. . . . Based on these unique facts and circumstances, the SEC believes
modification of the Judgment is in the public interest."
Disgorgement & Penalty Information
Resolutions
The SEC stated: "[T]he Securities and Exchange Commission (SEC) consents to the relief sought by the motions and agrees that the final judgments should be modified as reflected in the proposed orders submitted by each respective Defendant. . . . Based on these unique facts and circumstances, the SEC believes modification of the Judgment is in the public interest."
Related Documents:
Complaint
According to SEC: "Lehman held out its equity research as providing independent stock recommendations and independent analysis of stocks based on the investment merits of the stocks being evaluated. In fact, Lehman's research analysts were, at times, confronted with pressures and conflicts of interest stemming from Lehman's desire to obtain investment banking business from covered companies."
SEC Sues Lehman Brothers For Research Analyst Conflicts Of Interest; Firm To Settle With SEC, NASD, NYSE, New York Attorney General, And State Regulators
According to the SEC: "The Securities and Exchange Commission announced today that it has settled charges against Lehman Brothers Inc., a New York-based brokerage firm and investment bank, arising from an investigation of research analyst conflicts of interest. This settlement, and settlements with nine other brokerage firms, are part of the global settlement the firms have reached with the Commission, NASD, Inc., the New York Stock Exchange, Inc. ("NYSE"), the New York Attorney General, and other state regulators. "
Final Judgment as to Defendant Lehman Brothers Inc.
Court Approves Modifications to Global Research Analyst Settlement
On March 19, 2010, the SEC published a litigation release announcing that the Honorable William H. Pauley issued an order approving modifications to the final judgments entered against Lehman Brothers, Inc. and the other firms covered by the Global Research Analyst Settlement.
Global Research Analyst Settlement; SEC Consents to Termination of Undertakings in Global Research Analyst Settlement
On December 5, 2025, the SEC stated that: "[It] consented to modifications to the
October 2003 . . . and September 2004 . . . final judgments against settling firms still
covered by the Global Research Analyst Settlement, a global settlement of SEC and other
enforcement actions against twelve investment banks and two individuals. The modifications
are subject to court approval."
