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Browse: Home / 2009 / July / 22 / SEC Files Novel “Clawback” Action Under SOX 304

SEC Files Novel “Clawback” Action Under SOX 304

By Securities Docket on July 22, 2009, 1:20 pm

The SEC has asked a federal court in Arizona to order the former CEO of CSK Auto Corporation to reimburse the company and its shareholders more than $4 million under SOX 304.  According to the SEC, this is the first action seeking reimbursement under the SOX “clawback” provision (Section 304) from an individual who is not alleged to have otherwise violated the securities laws.  Full details are available in this post on my Enforcement Action blog over at Compliance Week.

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Posted in SEC | Tagged Clawback, SOX

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