SEC Seeks $4M Clawback From CSK Auto Ex-CEO

Law360, New York (July 22, 2009, 8:31 PM EDT) -- Invoking the clawback provision of the Sarbanes-Oxley Act for the first time, the U.S. Securities and Exchange Commission asked a court Wednesday for an order forcing the former CEO of CSK Auto Corp. to return more than $4 million in bonuses and stock sale profits made while the company was allegedly defrauding investors.

The landmark enforcement action against ex-CEO Maynard Jenkins is the first to demand reimbursement under the SOX clawback provision from an individual not otherwise accused of involvement in a corporate accounting scandal....
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