SEC Claws Back $2.8M From Former CSK Auto CEO

Law360, New York (November 15, 2011, 10:13 PM EST) -- The U.S. Securities and Exchange Commission on Tuesday said that the former CEO of CSK Auto Corp. agreed to return $2.8 million in bonuses he received while the parts company committed accounting fraud to overstate its income by $66 million over three years.

In a filing in Arizona federal court, the SEC said Maynard L. Jenkins agreed to repay his bonuses including stock profits to O’Reilly Automotive Inc., which acquired CSK in 2008, although he neither denied nor admitted to the agency's allegations.

The proposed settlement...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Jenkins


Case Number

2:09-cv-01510

Court

Arizona

Nature of Suit

Securities/Commodities

Judge

Robert J Bryan

Date Filed

July 22, 2009

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.