SEC LAUNCHES FORMAL INVESTIGATION OF FLEMING ACCOUNTING

DALLAS -- Fleming Cos. here last week detailed the implications of the termination of its supply agreement with Kmart, but the wholesaler could not clear the cloud of uncertainty created by a stepped-up probe of its accounting practices by the Securities and Exchange Commission.The company said the SEC has elevated its previously reported informal inquiry into the way Fleming accounted for vendor

DALLAS -- Fleming Cos. here last week detailed the implications of the termination of its supply agreement with Kmart, but the wholesaler could not clear the cloud of uncertainty created by a stepped-up probe of its accounting practices by the Securities and Exchange Commission.

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