SEC Drops Probe Of Guess Executive

Law360, New York (February 6, 2007, 12:00 AM EST) -- Fashion conglomerate Guess? Inc. said Tuesday that its president and chief operating officer has been let off the hook, with the U.S. Securities and Exchange Commission abandoning a long-running investigation into Carlos Alberini’s service at his previous employer, Footstar Inc.

The company said in a filing with the SEC on Tuesday that the agency has terminated the portion of the probe relating to Alberini, and has notified him that it will not recommend any enforcement action against him.

Guess noted in the filing that the inquiry...
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