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SEC Rebuts Collins & Aikman Execs' Dismissal Bid

Law360, New York (September 19, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission on Tuesday defended a civil lawsuit against bankrupt Collins & Aikman and a number of its officers against the officers' motions to dismiss allegations that they misrepresented Collins & Aikman's income to defraud investors.

The commission's response targeted motions by former Collins & Aikman CEO David Stockman; former CFO Michael Stepp; former vice president of finance David Cosgrove; former director of financial analysis Paul Barnaba; and Elkin McCallum, a supplier for the company who also served on its board of...
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