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Sunday, March 29, 2015 11:36:13 AM
Any time a firm puts out financials and states that numbers are not audited nor prepared according to GAAP it is prudent to assume that there is a serious problem with the numbers and one should put much faith in them.
Given the size of Lehman and being in BK I do not know why this reporting decision was made as even the smallest of companies that have an accounting firm prepare reviewed or stated financials prepare their financials according to GAAP.
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