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Home Depot Acknowledges SEC Inquiry

Law360 (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...
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