Schawk Could Face SEC Action Over 2008 Restatement

Law360, New York (May 23, 2011, 2:56 PM EDT) -- Schawk Inc. on Friday revealed that U.S. securities regulators could bring a civil suit against the company related to a 2008 earnings restatement.

In a filing with the U.S. Securities and Exchange Commission, Schawk said a May 17 Wells notice said the commission's staff was considering recommending that SEC enforcement proceedings be launched against the company for allegedly inaccurate books and records and a lack of appropriate internal control mechanisms. The delivery of a Wells notice gives Schawk an opportunity to respond to the SEC's recommendation...
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