Charlie Gasparino: "Lehman SEC Charges Coming In September"

Sources tell Fox Business Network (FBN) Senior Correspondent Charlie Gasparino that former Lehman Brothers CEO Dick Fuld is saying that SEC charges against the firm will come in September. Based on this, lawyers for Wall Street firms speculate that “Wells Notices have been issued.” Highlights of Gasparino's report can be found below, courtesy of Fox Business Network. On when the SEC will file charges against Lehman Brothers: “This is coming from Dick Fuld, who told someone we spoke to, that September is when the rubber meets the road on this.” Speculation surrounding the SEC preparing to file charges: “You have to surmise, this is from top lawyers on Wall Street, that Wells Notices, have been issued. To somebody, we don’t know who.” On what a Wells Notice means for Lehman Brothers: “90% to 95% of the time from what I understand, a wells notice results in an official charge. Right now they are basically trying to talk the SEC out of filing the official charges.” On what Dick Fuld has to say about these rumors: “We put a call into Dick Fuld and he has not gotten back to us.”