Foley & Lardner LLP

SEC Investigation of Major Financial Institution

Successfully defended three senior securities lending executives in connection with the SEC's investigation of their and their employer's activities immediately following the Lehman Bros. collapse. The SEC sought to determine whether the institution, acting through these and other executives, had made material misrepresentations and favored certain clients in permitting isolated redemptions of securities invested in the program. After a lengthy investigation, the SEC declined to pursue the matter further.