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Last week the SEC sued CSK Auto's Maynard Jenkins, seeking the return of more than $4 million he earned as CEO of the auto parts business. The SEC didn't charge Jenkins with fraud; it simply claimed that he must forfeit certain kinds of pay he received when the company filed false financial statements between 2002 and 2004. The SEC said in its press release that this suit is the first enforcement action brought solely under Sarbanes-Oxley's clawback provision.
July 31, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.com
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