Solyndra Execs Will Take 5th at House Hearing

Lawyers advise CEO and CFO to keep mum
By Matt Cantor,  Newser User
Posted Sep 20, 2011 5:50 PM CDT
Solyndra CEO Brian Harrison.   (Photo: Business Wire)
camera-icon View 1 more image

(Newser) – When Solyndra bosses arrive for a House hearing this week, they won’t be saying much. CEO Brian Harrison and CFO Bill Stover plan to take the Fifth during congressional questioning Friday, their lawyers told House investigators in letters. “I have advised Mr. Harrison that he should decline to answer questions put to him by this subcommittee based on his rights under the Fifth Amendment,” wrote his attorney. “It would be irresponsible for anyone in his position" not to invoke the Fifth, agreed Stover’s lawyer.

In a statement, the company “believes that the record will establish that Solyndra carefully followed the rules of the competitive application process, starting in December 2006 under the Bush administration and continuing under the Obama administration,” the Los Angeles Times reports. The company, which got more than $500 million in federal loans, went bankrupt last month. Friday's hearing is before the House Energy and Commerce Committee. Meanwhile, Darrell Issa is ready to investigate the Obama administration's relationship with the firm through his House oversight committee.

My Take on This Story
Show results without voting  |