CSK Auto Ex-CEO Slams 'Unjust' SEC Clawback Action

Law360, New York (September 16, 2009, 2:25 PM EDT) -- The former CEO of CSK Auto Corp. has urged a court to toss a landmark U.S. Securities and Exchange Commission action that calls for the forfeiture of more than $4 million he made while the company allegedly was defrauding investors, saying the sought-after penalty was draconian.

Maynard Jenkins — the first corporate executive to be subjected to the clawback provision of the Sarbanes-Oxley Act absent any charges of fraud — has slammed the SEC for what he describes as an unjust and unconstitutional interpretation of Section...
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