Date: Thursday June 30, 2005 10:50:00 am
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OfficeMax announces SEC investigation
June 2005 – Itasca (IL): OfficeMax has announced that the Securities and Exchange Commission (SEC) has issued a formal investigation arising from the company’s previously announced internal probe into its accounting for vendor income. In connection with the probe, six employees were dismissed and the company reported in amended quarterly reports that it overstated its cumulative net operating income in the first three fiscal quarters of 2004 by $4.3 million.
OfficeMax said it intends to cooperate fully with the SEC.
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