SEC Eyeing Former Chief Of Bankrupt Collins & Aikman

Law360, New York (September 8, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has reportedly eyed the former chief of bankrupt auto parts manufacturer Collins & Aikman Corp. for his possible involvement in financial irregularities.

Anonymous sources have revealed SEC lawyers have contacted David A. Stockman, who installed himself as chief executive at Collins & Aikman in August 2003, to inform him he could face civil charges, the Washington Post reported on Friday.

Stockman, who was ousted just days before the firm’s May 2005 collapse into bankruptcy, gave buoyant statements about the Detroit-based...
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