Waiting for SEC to Subpeona them any minute now TOKYO (Reuters) - Mitsubishi UFJ Financial Group (MUFG) (Tokyo:8306.T - News) has no plans to invest in U.S. investment bank Lehman Brothers (NYSE:LEH - News), an executive at Japan's largest bank said, responding to a media report that it was considering taking a stake. The Times of London reported that the core banking unit of MUFG was poised to enter the bidding for a substantial stake in Lehman. The report sent shares of Lehman higher in after-hours trade. MUFG has "absolutely no plans" to invest in Lehman, an executive involved in major decisions at the bank told Reuters
The SEC said no absolutely no rumors would be allowed regarding LEH and a few other financial stocks. Now we'll see that the SEC does support rumors in LEH - but only if those rumors work the stock higher. The SEC definitely won't investigate.