Home Depot Acknowledges SEC Inquiry

Law360, New York (January 12, 2006, 12:00 AM EST) -- Caving in to media pressure, Home Depot announced this week that the U.S. Securities and Exchange Commission has opened an informal probe into the company, amid allegations that it exploited a return policy which resulted in overblown profits.

The nation’s largest home improvement retailer acknowledged in a statement that the SEC had requested information regarding the company’s “return to vendor” policy a few months ago.

The announcement comes on the heels of a story that ran in the New York Post, which accused the company of...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.