In the Matter of Robert McClernon
Admin. Proc. File No. 3-9094
Matter at a glance
- Year
- c. 1996
- Agency
- U.S. Securities and Exchange Commission
- Forum
- Administrative proceeding
- Mr. Lehrer's role
- Principal litigator
- Docket / file
- Admin. Proc. File No. 3-9094
What the matter involved
Accountant liability and fraudulent financial statements.
The matter was brought by the U.S. Securities and Exchange Commission and heard as a administrative proceeding. Mr. Lehrer worked the file as a principal litigator, which meant building the record on the government's side — the documents, the testimony, and the theory of the violation — rather than responding to it.
- Accountant liability. Accountants and auditors face separate exposure, including Rule 102(e) proceedings that can suspend the right to practice before the Commission.
- Financial statements. Misstated financial statements pull in the preparers as well as the company — officers who certified them and, in some matters, the outside accountants who blessed them.
Outcome and public record
This matter was resolved on the public record of the U.S. Securities and Exchange Commission under Admin. Proc. File No. 3-9094. Out of respect for the individuals and entities named, this page does not restate penalties, bars, or sentences. The agency's own release for the matter is the authoritative record of its disposition.
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Past results in government enforcement matters do not predict or guarantee the result of any future matter. This page describes work performed on behalf of a government agency before Mr. Lehrer entered private practice in 2000.
Why this matters to issuers today
The staff still builds files the same way: start with the public document, test it against the company's own records, and interview the people who signed. Knowing how that record gets assembled is the reason issuers bring this experience in at the drafting stage — before a filing, an offering, or a promotion creates the paper trail a later investigation would follow.
Questions about a filing, an offering, or a promotion?
Talk directly to a former SEC enforcement attorney — no intake staff, no forms.