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US Atty. Seeks $1.4B From Ex-Collins & Aikman Execs.

Law360 (March 26, 2007, 12:00 AM EDT) -- David Stockman, the former chief executive of Collins & Aikman Corp., is one of several ex-Collins & Aikman executives facing civil and criminal charges stemming from an alleged scheme to mislead the company’s investors and lenders.

The U.S. Attorney for the Southern District of New York said on Monday that Stockman has been indicted on various fraud charges and accused of masterminding a plot to cover up Collins & Aikman’s lackluster financial results during Stockman's stint as CEO.

The indictment unsealed Monday charged Stockman with securities...
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