LYCOS RETRIEVER 
Investigation: Company
built 656 days ago
In 2005, Marathon subsidiary Speedway SuperAmerica LLC (SSA) was informed that its retail operations in Kentucky were under investigation for alleged gasoline price gouging utilizing a new and extremely vague law. The Attorney General began by reviewing the timeframe following the 2005 hurricane season. The Attorney General subpoenaed financial records from Marathon and SSA and numerous other retail gasoline marketers. From the beginning, Marathon has cooperated fully with the Attorney General on this investigation and participated in a number of discussions. However, the Company has not been contacted by the Attorney General's office since January 2007.
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NEW YORK -- The Securities and Exchange Commission has opened an investigation into a news release that doubled a small outsourcing company's stock Wednesday before the company said the announcement was "totally false." The announcement, distributed over PRNewswire early Wednesday, said Duluth, Ga.-based Innotrac Corp. had signed a major contract with a European industrial conglomerate. Innotrac's stock leaped on the Nasdaq Wednesday morning before the company said it did not issue the release.
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This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the prospective resolution of a criminal investigation. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that the agreement in principle will be finalized or that the plea will be accepted. If the agreement is not finalized and the plea is not accepted, it is not possible to assess the ultimate resolution of this investigation or its impact on the Company. Forward- looking statements in the press release should be evaluated together with the many uncertainties that affect Bristol-Myers Squibb’s business, particularly those identified in the cautionary factors discussion in Bristol-Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2006, its Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
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As previously announced on November 9, 2006, the Special Committee was established by Getty Images' Board of Directors to conduct an independent investigation relating to the Company's equity compensation grant practices and related accounting for equity compensation grants. The Special Committee consists of two independent members of Getty Images' Board of Directors, Alan G. Spoon and Michael A. Stein, the chair of the Audit Committee. The Special Committee was assisted in the investigation by independent outside legal counsel Orrick, Herrington & Sutcliffe LLP.
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The SEC's investigation related to certain improper payments made by foreign affiliates of the Company in Nigeria. The Company discovered the activity in question, conducted an internal investigation, voluntarily reported the matter to the SEC and provided disclosure in a Form 10-K for its fiscal year ended March 31, 2005. Without admitting or denying the SEC's findings, the Company consented to be ordered not to engage in future violations of certain provisions of the federal securities laws involving improper foreign payments, internal controls and books and records.
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The probes into the insurance industry have been in the press regularly since the New York state attorney general announced an investigation on October 14. RLI has received similar inquiries from representatives of other states, and may continue to receive such inquiries as the company is licensed to do business in all 50 states. RLI is fully complying with all requests for information, and will continue to do so.
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