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...
To view the full article, register now.

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.