Office Depot To Pay $1M Over Alleged Investor Calls

Law360, New York (October 21, 2010, 6:41 PM EDT) -- Office Depot Inc. will pay federal securities regulators $1 million to resolve allegations that its CEO and ex-chief financial officer had employees make selective calls to analysts suggesting that the company might not meet its expectations for 2007.

The office accessories supplier agreed to pay the fine without admitting to any violations of federal fair disclosure regulations, the U.S. Securities and Exchange Commission announced Thursday.

In an unrelated matter, the SEC also settled with the company over allegations that it overstated its earnings in 2006 and...
To view the full article, register now.