SEC Sues Spiegel Over Public Disclosure
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From Reuters
The Securities and Exchange Commission sued retailer Spiegel Inc., accusing it of withholding adverse information from the public.
Spiegel settled the lawsuit without admitting or denying the accusations that the company had failed to disclose an opinion from its independent auditor that it might be unable to continue as a “going concern.”
The company also agreed to appoint an independent examiner, which will review the retailer’s financial records.
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