Delphi Gives SEC Permission To Extend Probe Deadline

Law360, New York (August 15, 2006, 12:00 AM EDT) -- Troubled auto-parts company Delphi Corp. said on Tuesday that it agreed to extend the U.S. Securities and Exchange Commission’s investigation of the company from its original date in April to Oct. 31.

The SEC, which has been investigating the company’s accounting practices since 2004, faced a possible end to a five-year statute of limitations penalty.

Delphi agreed to move the deadline a full six months.

The company said the agency was taking a "risk-based" approach to its investigation "by seeking information from issuers in an effort...
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