Law360, New York (January 12, 2006, 12:00 AM ET) -- The U.S. Securities and Exchange Commission has launched a formal investigation into computer and software colossus IBM, questioning the company’s first quarter earnings and equity compensation disclosure.
IBM said it is cooperating with the investigation and that the probe does not imply that any laws have been broken.
The formalization of the SEC investigation gives the agency the authority to subpoena documents and executive testimony.
The formal investigation follows an informal probe launched by the agency in June.
The SEC took action after an April announcement...
SEC Probes IBM Earnings Disclosures
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