SEC Steps Up Probe Of Abercrombie & Fitch

Law360, New York (January 6, 2006, 12:00 AM EST) -- The Securities and Exchange Commission has stepped up its investigation of Abercrombie & Fitch amid allegations the clothing retailer’s management pumped up its stock price by inflating earnings.

Abercrombie said Thursday that the SEC has issued a formal order of investigation into stock sales made between June 2 and August 16, 2005 by company Chairman and Chief Executive Michael S. Jeffries and others. An informal investigation launched in December looked into the same matter.

John Heine, deputy director in the SEC's office of public affairs, said...
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