SEC Clears Mackey in Message-Board Scandal

Whole Foods Market here said Friday that the Securities and Exchange Commission has concluded its investigation into the message-board postings of the company’s chairman and chief executive officer, John Mackey, and has not recommended any enforcement action against him or Whole Foods.

AUSTIN, Texas — Whole Foods Market here said Friday that the Securities and Exchange Commission has concluded its investigation into the message-board postings of the company’s chairman and chief executive officer, John Mackey, and has not recommended any enforcement action against him or Whole Foods. Mackey’s postings on Yahoo’s stock message boards, in which he used a pseudonym to praise his own company and bash competitors, including Wild Oats, came to light last year as Whole Foods was seeking to acquire Wild Oats. The deal has since been completed. Whole Foods’ board also investigated Mackey’s postings and in October of last year “reaffirmed its support of the Whole Foods Market leadership team,” Whole Foods said.

Read More of Today's Headlines [2]