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Lance Probe May Test SEC Determination
Negotiations for the sale of Lance’s 200,767 shares in the National Bank of Georgia hinge on whether he can take an active role in management. The potential sale heightens SEC enforcement risks that could bar him from banking for months or years if not convicted of a crime. The deal involves a 20 percent premium price per share and may require Lance to step back from operations if pursued by regulators.
MENTIONED IN THIS ARTICLE
NY Times
Washington
Bert Lance
National Bank of Georgia
Securities and Exchange Commission
Lance
SEC
Atlanta
Emmet J. Bondurant
Banking Bondurant
Stanley Sporkin
Robert Altman
Calhoun Bank