Penn Traffic Settles With SEC

Penn Traffic Co. said last week it has reached a settlement with the Securities and Exchange Commission over accounting practices prior to 2003. The company said it is continuing to cooperate with the U.S. Attorney for the Northern District of New York in an ongoing investigation of the same matters that were the subject of the federal probe. The investigations involve practices

SYRACUSE, N.Y. — Penn Traffic Co. here said last week it has reached a settlement with the Securities and Exchange Commission over accounting practices prior to 2003.

The company said it is continuing to cooperate with the U.S. Attorney for the Northern District of New York in an ongoing investigation of the same matters that were the subject of the federal probe.

The investigations involve practices and policies relating to promotional allowances by the chain from fisc

Register to view the full article

test - Advanced Registered User

Already a member? .