NYSE fines, censures Lehman

Nov 2, 2005 @ 12:01 am

WASHINGTON -- Lehman Brothers Inc. of New York was fined $500,000 and censured by the New York Stock Exchange for failing to supervise a profitable trading strategy that potentially harmed its customers. On Dec. 11, 2002, Lehman Brothers effected transactions for the sale of more than 2 million shares of the stock of Quest Diagnostics Inc. of Lyndhurst, N.J., that were disruptive and caused the stock's price to fall excessively, the NYSE said in a release this morning. Lehman neither admitted nor denied the charges.

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