The SEC is investigating a leveraged buyout.
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The possibility of insider trading in the stock of Sheller-Globe Corp. before the company went private in a $482-million leveraged buyout last June is being investigated by the SEC, Shearson Lehman Bros. said. Shearson Lehman issued its statement in response to media reports linking the brokerage to the investigation, but the firm said it had “no reason to believe” that any of its employees “violated restrictions concerning insider trading in the course of this transaction.” Sheller-Globe is an auto parts and office-supplies concern headquartered in Toledo, Ohio,
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